You have to love the corporate greed that is displayed by this kind of ridicules price increase.  How will we make our numbers look better to Wall Street.
 
They (corporations) will be the first to cry if/ when Congress is force ; by the people - to make some changes to the laws
 
(edit typos)

This issue made 60 Minutes - was interesting - I did not get to watch but a little bit

MSim
Best way consumers can fight back at companies that do that is to boycott them, tell everyone you know to do the same thing. Use social media to get other people to join you. Keep it up for at least a year after they lower prices back down. You want to make sure that company learns it's lesson.
 
Amazing what can happen when enough people take part in a boycott.
 
 

Except if you have a Monopoly on a critical drug - or delivery system
 
LINK
http://www.nbcnews.com/business/consumer/mylan-execs-gave-themselves-raises-they-hiked-epipen-prices-n636591
 

Cool GTX

MSim
Best way consumers can fight back at companies that do that is to boycott them, tell everyone you know to do the same thing. Use social media to get other people to join you. Keep it up for at least a year after they lower prices back down. You want to make sure that company learns it's lesson.
 
Amazing what can happen when enough people take part in a boycott.
 
 

Except if you have a Monopoly on a critical drug - or delivery system
 
LINK
http://www.nbcnews.com/business/consumer/mylan-execs-gave-themselves-raises-they-hiked-epipen-prices-n636591
 

That is when the government should step in. They have the power to force drug companies to set a fair price.
 
 

Brad_Hawthorne
Playing devil's advocate here. Say there are two manufacturers in the market. One gets shut down for a recall. How much product is now in the market? Did you say half? Interesting. Beings that we're in a supply and demand market, the only current supplier got caught with excessive demand and unit price spiked because of lack of supply. People are asserting intent. Are medical supplies regulated in such a manner that they are exempt from consumer price fluctuation? If so, citing the law that was broken would be helpful to people's assertions. Did the price spike originate from the manufacturer or from a warehouse supplier? Would be nice to actually know those particulars before pointing fingers and resorting to trial by public opinion.

 
 Price gouging with medication is no different than when a tornado or hurricane happen and people increase prices through the roof for basics like food, water, gas.  Those truly in need have no choice - its buy or die.
 
 
 
LINK
excerpt
 
Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase, according to data provided by Connecture.
 
In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. In 2008 and 2009, Mylan raised the price by 5 percent. At the end of 2009 it tried out a 19 percent hike. The years 2010-2013 saw a succession of 10 percent price hikes.
 
And from the fourth quarter of 2013 to the second quarter of 2016, Mylan steadily raised EpiPen prices 15 percent every other quarter.
The stock price more than tripled, going from $13.29 in 2007 to a high of $47.59 in 2016.
And while sales of the life-saving drug rose to provide 40 percent of the company's operating profits in 2014,
 
Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one and that they be prescribed for at-risk patients, not just those with confirmed allergies. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools.
 
Among the usual advice for lower your prescription drug costs is to seek out a generic alternative. But because of the patent on the EpiPen delivery device, a true generic doesn't exist. Patients are instead buying abroad where the EpiPen is cheaper, and resorting to other devices that deliver epinephrine, including DIY syringes.

My little brother needs these casually sometimes. ugh

agent8
The entire medical system is so corrupt as is insurance. My wife had a 15 minute procedure that is now in the THOUSANDS. The worst part is, that is WITH insurance. I am supposed to have an Epipen but even before this it was pretty expensive and it expired super quick. I'll chance it.

Talk to your Dr about BENADRYL®  - could buy you enough minutes to get to emergency care

Sushihunter
 
OK, I'm going to pile on here...
 
While my first instinct is to be outraged by the "price gouging", I have to keep in mind that it does people a favor.
It goes back to the whole supply & demand system, and also emergency/disaster demand.
 
If you think about what happens in an emergency situation, such as a hurricane or flood warning - what happens?
People go in and buy ALL the essential supplies and literally clean out the stores and gas stations.
Suddenly, you can't buy flashlights, batteries, bottled water, food, gasoline.
So, if you weren't quick enough to get to the gas station, now you and your family don't have enough gas to escape the coming storm, or enough food and water to survive in place.
 
However...
 
The gas stations upon the first storm report doubles the price of gas, and bottled water, and anything else that might be needed to escape or ride out the storm.
 
Instead of buying everything they can "just in case", people limit what they buy. They only buy one case of bottle water, half a tank of gas, instead of a full tank and every container they can fill.
 
Now, the gas station has gas for everyone to escape the storm and water for those who need it because it wasn't hoarded by those who got there first.
 
Do you really think the government could do a better job than the free market supply and demand?
 
 
Same situation with the Epipens. Price goes up, people will only buy what they need and won't hoard them to make sure that they get theirs.
 

Lets start by being on the same page
 
 
 price gouging - pricing above the market price when no alternative retailer is available.
 
 
Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent. Usually this event occurs after a demand or supply shock:  common examples include price increases of basic necessities after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some jurisdictions of the United States during civil emergencies.

source
 
 
Our Tax dollars hard at work - you missed this part ---
 
 
Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one and that they be prescribed for at-risk patients, not just those with confirmed allergies. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools.
 

MSim

Sushihunter

Brad_Hawthorne
Playing devil's advocate here. Say there are two manufacturers in the market. One gets shut down for a recall. How much product is now in the market? Did you say half? Interesting. Beings that we're in a supply and demand market, the only current supplier got caught with excessive demand and unit price spiked because of lack of supply. People are asserting intent. Are medical supplies regulated in such a manner that they are exempt from consumer price fluctuation? If so, citing the law that was broken would be helpful to people's assertions. Did the price spike originate from the manufacturer or from a warehouse supplier? Would be nice to actually know those particulars before pointing fingers and resorting to trial by public opinion.

OK, I'm going to pile on here...
 
While my first instinct is to be outraged by the "price gouging", I have to keep in mind that it does people a favor.
It goes back to the whole supply & demand system, and also emergency/disaster demand.
 
If you think about what happens in an emergency situation, such as a hurricane or flood warning - what happens?
People go in and buy ALL the essential supplies and literally clean out the stores and gas stations.
Suddenly, you can't buy flashlights, batteries, bottled water, food, gasoline.
So, if you weren't quick enough to get to the gas station, now you and your family don't have enough gas to escape the coming storm, or enough food and water to survive in place.
 
However...
 
The gas stations upon the first storm report doubles the price of gas, and bottled water, and anything else that might be needed to escape or ride out the storm.
 
Instead of buying everything they can "just in case", people limit what they buy. They only buy one case of bottle water, half a tank of gas, instead of a full tank and every container they can fill.
 
Now, the gas station has gas for everyone to escape the storm and water for those who need it because it wasn't hoarded by those who got there first.
 
Do you really think the government could do a better job than the free market supply and demand?
 
 
Same situation with the Epipens. Price goes up, people will only buy what they need and won't hoard them to make sure that they get theirs.
 

The government could do a better job, they could allow generic's on the market quicker, on any drugs that help to save peoples lives. They should punish drug companies that price gouge like were seeing. A flip of a switch, the drug company can make 10x more Epipens, but instead they jack up the price to be greedy.
 

But hey, you get "free healthcare".

"But hey, you get "free healthcare". "
-----------------------------------------------
 
Yes, we do - to a point.
Problem is it gets rationed.
If it's serious, you might not live long enough to see a specialist or to get your procedure.
 
I'm on Ibuprofen for my back. I was taking 400mg and  topping up with 200mg when needed.
One day the government says they will no longer fund 400 or 200 - but they will fund 600mg.
So, in order to be covered, I had to up my dosage to 600mg.
 
I also take an 81mg ASA for my heart - cheap like dirt. Won't cover it.
However, my pharmacy likes the fact that they fill 10+ prescriptions for me every month that they give it to me without charge.
 
Need an MRI? That's covered, but you could wait up to a year to get one. You have the $1,000 it costs to pay for it yourself? Who cares - you can't get one! Unless you go to the US.
Like anything, there are good and bad aspects to it.
 

Sushihunter
"But hey, you get "free healthcare". "
-----------------------------------------------
 
Yes, we do - to a point.
Problem is it gets rationed.
If it's serious, you might not live long enough to see a specialist or to get your procedure.
 
I'm on Ibuprofen for my back. I was taking 400mg and  topping up with 200mg when needed.
One day the government says they will no longer fund 400 or 200 - but they will fund 600mg.
So, in order to be covered, I had to up my dosage to 600mg.
 
I also take an 81mg ASA for my heart - cheap like dirt. Won't cover it.
However, my pharmacy likes the fact that they fill 10+ prescriptions for me every month that they give it to me without charge.
 
Need an MRI? That's covered, but you could wait up to a year to get one. You have the $1,000 it costs to pay for it yourself? Who cares - you can't get one! Unless you go to the US.
Like anything, there are good and bad aspects to it.
 

There's no such thing as "Free Healthcare"...the money doesn't magically appear. It's taxpayers money...ie: YOUR money..HIS money...HER money.
 
Socialized medicine is garbage.
 

transdogmifier

Sushihunter
"But hey, you get "free healthcare". "
-----------------------------------------------
 
Yes, we do - to a point.
Problem is it gets rationed.
If it's serious, you might not live long enough to see a specialist or to get your procedure.
 
I'm on Ibuprofen for my back. I was taking 400mg and  topping up with 200mg when needed.
One day the government says they will no longer fund 400 or 200 - but they will fund 600mg.
So, in order to be covered, I had to up my dosage to 600mg.
 
I also take an 81mg ASA for my heart - cheap like dirt. Won't cover it.
However, my pharmacy likes the fact that they fill 10+ prescriptions for me every month that they give it to me without charge.
 
Need an MRI? That's covered, but you could wait up to a year to get one. You have the $1,000 it costs to pay for it yourself? Who cares - you can't get one! Unless you go to the US.
Like anything, there are good and bad aspects to it.
 

There's no such thing as "Free Healthcare"...the money doesn't magically appear. It's taxpayers money...ie: YOUR money..HIS money...HER money.
 
Socialized medicine is garbage.
 

Again, my post was pure sarcasm. The healthcare which we have that is "free" is not free, it's a joke, and more than a joke. And "he" never said it would be free in the first place; we're all paying for it now, even employers, but we're not going to go there.

Brad_Hawthorne
Playing devil's advocate here. Say there are two manufacturers in the market. One gets shut down for a recall. How much product is now in the market? Did you say half? Interesting. Beings that we're in a supply and demand market, the only current supplier got caught with excessive demand and unit price spiked because of lack of supply. People are asserting intent. Are medical supplies regulated in such a manner that they are exempt from consumer price fluctuation? If so, citing the law that was broken would be helpful to people's assertions. Did the price spike originate from the manufacturer or from a warehouse supplier? Would be nice to actually know those particulars before pointing fingers and resorting to trial by public opinion.

except the cost to make it is about 5 dollars with about 1 dollar worth of actual drug, and its not in a short supply and has been manufactured since the 50's. So this is simply wanting to overcharge for something millions can't live without. This directly affects me because I have a sever bee and wasp allergy that will send me into cardiac arrest if stung, and guess what I depend on to not die in case of a sting?
 
I don't have a choice but to buy this epipens because my life depends on it and I have good insurance, but millions don't have it, and while I don't believe in universal health care ect, I do believe a reasonable cost is appropriate, it made a profit selling for 100 dollars for a pair a few years ago, so why now does the price need to be near 900 dollars for a pair to make a profit? I am a Conservative and I support the free market, but this is going to far.

kaninja

transdogmifier
Socialized medicine is garbage.

Yes, except when you look at such things as facts then it really isn't. A system paid for by the people for the people works great. A system that sees a sick person as an opportunity for profit.....that is truly sick.

When private interests and profits are put ahead of the public good you get stories like this epipen fiasco.

In the end it is "Whatever the market will bear". So this whole thing is nothing more than a capitalism success story. More money in the hands of this Corporation that they will use to create lots of jobs is a great thing.

Just NOPE
 
This Epipen Price Gouging, is an example why we need to elect a Congress that will represent the people - not just the corporations
 
Lets start by being on the same page Lets look at the definition of price gouging
 
 
 price gouging - pricing above the market price when no alternative retailer is available.
 
 
Price gouging - is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent. Usually this event occurs after a demand or supply shock:  common examples include price increases of basic necessities after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some jurisdictions of the United States during civil emergencies.

source
 

transdogmifier

yes, except it is.

I have the money, but I can't get the care because "durrr..socialized medicine....have to go thru government"...
"Oh, wait, that'll cost too much..nope we're not paying...Don't care if you want to fight to live....here's your end of life
counseling..oh, and btw, we have to cut it because "socialism is great until you run out of other peoples money"."
 
but you keep on believing the garbage they fed you...

What you describe isn't socialized medicine....sounds like a mess.

Here the only part the government plays is distributing the cash to the provinces based on need / population.

The Government has zero say in what care you do or do not get.

A lot of our doctors aren't multi-millionaires but they do EXTREMELY well. Interestingly, because WE pay for them, we can look on-line and see what they make each year. Our family doctor made $385k last year.....not bad for a 58 year old guy that works 3 days a week on average.

I should not that the price for Epipen has remained constant in Canada for 6 years now, and the increase the United States has seen will not be seen here. Currently the cost is 1/3 of what it is in the U.S. We have something called the Patented Medicine Price Review Board which strictly regulates what pharmaceutical companies can charge for their drugs here.....no gouging allowed.

I do see a lot of propaganda about socialized medicine on American TV though which is often quite funny and full of ridiculous lies.

candle_86
Also as a tax payer maybe I don't want to pay for the meth addict down the block that goes to the hospital ever few days, I'd be fine with it if the screened out anyone with drug problems, or those that refuse to work but are able to work. I don't want to pay for lazy people or addicted people.

Absolutely. Our ER staffing here is actually trained to screen out "drug seekers". This starts at triage.....and our seasoned Nurses run a pretty tight ship. Also we do not hand out heavy drugs like Oxycodone very easily here. Someone walking off the street asking for "something for the pain" get screened out right quick.