NEW YORK CITY, NEW YORK (WBRE/WYOU) – Bowing to an outraged public, the CEO of Mylan Pharmaceuticals announced Thursday the company will take immediate steps to make its potentially life-saving EpiPens more affordable.
The firestorm facing the company came after it was revealed that the price of a two-pen pack as risen more than 400% in recent years. In 2009 the pens sold for about $100, this year thir costing about $600 per pack.
In a press release Thursday, Mylan said it would provide instant savings cards worth $300 to patients who have to pay full price for the drug out of pocket. That amounts to roughly a 50% price cut for people without insurance or for patients with high deductible plans.
In an interview on CNBC Thursday, Mylan CEO Heather Bresch said “We responded this morning, first and foremost, ensuring that everybody that needs an EpiPen has an EpiPen.”
When asked, Bresch, who is the daughter of Virginia Senator Joe Manchin, blamed the dramatic price increase on “the system” which needs to be “fixed”.
Bresch says Mylan will also “open a pathway” to sell its EpiPens directly to consumers which might help reduce the costs.
The pen provides epinephrine, a hormone also known as adrenaline, which can help relax muscles in airwaves in the midst of a severe allergic reaction.
Public schools are mandated under federal law to keep a supply of the devices available for emergencies, the money to purchase comes under federal block grants.