Not long ago the public was focused on the significant price increase of Mylan’s allergy reversing EpiPen. But Mylan hasn’t been the only drug maker to raise their prices in the past few years. With several companies following this trend, the pharmaceutical industry is under fire with many life saving drugs out of the public’s reach.
In an article written for Kaiser Health News, Shefali Luthra quotes Nicholson Price, a professor at the University of Michigan Law School:
‘”Epi-Pen happened, and everyone was like, ‘Wow, this is terrible, we shouldn’t allow this to happen,'” he said. “And we haven’t done anything about that, and it’s not clear what the solution is. Now, shocker, it’s happening again.”‘
The most recent company to dramatically raise the price of their drug is Kaleo, a small company from Virginia. They are the maker of a life saving antidote for opioid overdoses, Evzio. A two-pack of this injector device was just $690 in 2014 and is now listed at $4,500. This price increase has people questioning if it can be justified, however, this has not been widespread news across the United States.
With the nation’s opioid epidemic, a drug like Evzio is in high demand. The newest model of Evzio focuses on the high-tech features of the auto-injector. Included is a device that talks people through the process of administering the drug. The thought, is that anyone can use this device to help save a life in need. But with the prices so high, only first responders and drug treatment programs have access.
So is this new feature and the spike in price really worth it for Kaleo? In the article referenced above, Luthra questions the same thing:
“Still, experts say the device’s price surge is way out of step with production costs, and a needless drain on health-care resources.”
Read Massive Price Hike for Lifesaving Opioid Overdose Antidote, from Kaiser Health News for more information.