EpiPens cost a lot of money but Mylan Pharamceuticals, the company who manufactures them, just announced that they would be giving a $300 “savings card” discount to patients buying a two-pack of EpiPens. A previous savings card covered up to $100.
An EpiPen usually costs around $600 and is a device used in emergencies to treat anaphylaxis. Anaphylaxis is a severe allergic reaction that can make people go into shock, struggle to breathe, or get a skin rash.
Since Mylan acquired the drug in 2007, the price has gone up 500%.
Mylan CEO Heather Bresch told CNBC Thursday, “The system is broken. Look, first and foremost we want everyone with an EpiPen to have one. I have to tell you as a mother it breaks my heart. There’s no one out there that shouldn’t have it.”
For people without insurance, the savings card won’t apply. It also won’t apply to people on government insurance programs, such as Medicare or Medicaid. These people will still have to pay the full price.
Disclaimer: We have no position in Mylan Inc. (NASDAQ: MYL) and have not been compensated for this article.