It is estimated that there are currently 43 million Americans at risk of anaphylaxis, a life-threatening allergic reaction (“Mylan’s Commitment,” 2016). The majority of these people are in constant possession of an EpiPen, an auto-injector containing epinephrine used to reverse anaphylaxis (“Anaphylaxis,” 2016). However, in recent years the price of the EpiPen has increased substantially; a two-pack currently costs $609 (Pollack, 2016). Because Mylan commands around 85 percent of the epinephrine auto-injector market, almost all of those at risk have been affected (Herrick, 2016: 2). Concerns about drug price increases, like the EpiPen’s, have caused confusion in many people. Mylan has been criticized directly for EpiPen’s price increase; some
…show more content…
In turn, pharmaceutical prices have also increased, as seen with the price of the EpiPen. Furthermore, a study done by the Congressional Budget Office emphasizes the lack of the output of new drugs in recent years, which highlights the need for an increase in further research and development (“Research and Development,” 2006). This being said, society’s need for new, innovative pharmaceuticals is only possible through further research and development, which requires sufficient funding from pharmaceutical companies that is attained through drug …show more content…
Today, Mylan offers more than 1,400 products internationally, making it “one of the largest generics and specialty pharmaceutical companies in the world” (“Company,” 2016). Mylan’s website emphasizes on increasing global manufacturing, innovation, and generic utilization (“Company,” 2016). Over the years, they have expanded globally through the acquisition of a number of businesses, including the acquisition of Merck KGaA in 2007, in which Mylan attained the rights to EpiPen (“Company,” 2016). More recently, in August 2016, Mylan acquired Meda, which cost about $7.2 billion (Drozdiak, 2016). In addition to expansion, they are constantly working on the improvement of existing products, as shown with multiple generations of EpiPen, as well as the development of new and generic products. This being said as Mylan has grown as a company, so have their costs. From the first quarter of 2006 to the first quarter of 2016, their research and development costs alone have increased from $19.9 million to $253.6 million (“Mylan Research,”
In turn, pharmaceutical prices have also increased, as seen with the price of the EpiPen. Furthermore, a study done by the Congressional Budget Office emphasizes the lack of the output of new drugs in recent years, which highlights the need for an increase in further research and development (“Research and Development,” 2006). This being said, society’s need for new, innovative pharmaceuticals is only possible through further research and development, which requires sufficient funding from pharmaceutical companies that is attained through drug …show more content…
Today, Mylan offers more than 1,400 products internationally, making it “one of the largest generics and specialty pharmaceutical companies in the world” (“Company,” 2016). Mylan’s website emphasizes on increasing global manufacturing, innovation, and generic utilization (“Company,” 2016). Over the years, they have expanded globally through the acquisition of a number of businesses, including the acquisition of Merck KGaA in 2007, in which Mylan attained the rights to EpiPen (“Company,” 2016). More recently, in August 2016, Mylan acquired Meda, which cost about $7.2 billion (Drozdiak, 2016). In addition to expansion, they are constantly working on the improvement of existing products, as shown with multiple generations of EpiPen, as well as the development of new and generic products. This being said as Mylan has grown as a company, so have their costs. From the first quarter of 2006 to the first quarter of 2016, their research and development costs alone have increased from $19.9 million to $253.6 million (“Mylan Research,”