It has been a story that has had many people sitting in utter disgust. EpiPen maker Mylan has been under scrutiny for raising the prices of their life saving allergy medication.
The price increase was so outrageous that Mylan CEO Heather Bresh had to testify before the House Oversight and Government Reform Committee because of it.
The Centers for Medicare & Medicaid Services (CMS) has just confirmed to lawmakers that Mylan, has in fact, been overcharging the government for the EpiPen.
Senator Ron Wyden (D-OR) stated, “Today’s letter is more evidence that while Mylan irresponsibly raised the price of EpiPen, they were also bilking taxpayers out of millions of dollars.”
“Essential medicines like EpiPen are increasingly out of reach for families across the nation due to unjustified price hikes, and it’s high time for drug companies to take responsibility for their actions. We will ensure taxpayers get their due.”
From 2011 to 2015, government spending on EpiPen increased 463%, from $86 million to $487 million, according to CMS.
Disclaimer: We have no position in Mylan Inc. (NASDAQ: MYL) and have not been compensated for this article.