Why don't companies learn from other companies' mistakes?

A growing chorus is calling on the Mylan pharmaceutical company to justify its price hikes on EpiPens, a potentially life-saving medication for children and others facing fatal allergies that has little real competition.

In 2007, a two-pack of the epinephrine-filled devices went for $56.64 wholesale, according to data gathered by Connecture, a health insurance technology and data analytics company. Now it's jumped to $365.16, an increase of 544.77 percent. Since the end of 2013, the price has gone up by 15 percent every other quarter.

Floyd Robertson wrote:The mistake, IMHO, was underestimating the amount of public and press backlash they'd received for price gouging before being called to the Hill for a good old fashioned congressional hearing (soon to follow).

AnomanderRake wrote:

Floyd Robertson wrote:The mistake, IMHO, was underestimating the amount of public and press backlash they'd received for price gouging before being called to the Hill for a good old fashioned congressional hearing (soon to follow).

Yeah I'm sure they expected quite a bit of backlash but probably didn't expect to get called in by the feds. The fact is their entire customer base is captive buyers so they can charge whatever they want. As far as I know they didn't do anything illegal did they? To me this whole situation is more a symptom of our horrible health care system than it is the fault of a business doing anything they can to maximize profits.

TheReal_LWS wrote:It always infuriates me when companies try to make a profit. I get fighting mad. I may write a stern letter to someone over this outrage!

By-Tor wrote:I'm at ground zero of this bull shit. Luckily with some coupons from our doctor it knocked it down to about $450. My HSA account took a nice hit This price hike is also tied to the schools getting grants now for epipens. The mfr saw free $$$ so got greedy. I hope congress reams them with an epipen sans lube..

I.B. Fine wrote:

By-Tor wrote:I'm at ground zero of this bull shit. Luckily with some coupons from our doctor it knocked it down to about $450. My HSA account took a nice hit This price hike is also tied to the schools getting grants now for epipens. The mfr saw free $$$ so got greedy. I hope congress reams them with an epipen sans lube..

Wait a minute, you're telling me, once the government started subsidizing a product, the price of that product rose disproportionately?
Wow, wonder if that has ever happened with any other products?

The dramatic, 400 percent rise in the cost of EpiPens is the next big flashpoint in the national debate over skyrocketing prescription drug prices.

It turns out that the woman at the center of this controversy has powerful political connections. My colleague Catherine Ho reports that the head of Mylan, the drug company accused of hiking the price of the pen that treats severe allergic reactions, is also the daughter of Joe Manchin, a Democratic U.S. senator from West Virginia and the state's former governor.

Heather Bresch's career has risen along with her father's, a fact that has not gone unnoticed by her critics.

Dendrobates wrote:Be grateful you don't have a rare disease. I work in that field, and each patients treatment is 6 figures a year for the rest of their lives. But that shit will always be expensive because there are so few taking them, and it's the only thing keeping them alive. Overall though, orphan drugs make up less than 1% of costs in healthcare.

AnomanderRake wrote:What mistake did they make?

One of the largest generic manufacturers in the world is about to release their generic of the EpiPen. It was delayed by the FDA and will likely come out next year. EpiPen is just trying to bolster their sales and maximize profits before their first generic competitor hits the market next year and they are forced to drop their price to compete.

Yeah it's disgusting and messed up they're able to put a price on people's lives like this but that's the nature of a health care system with free market elements like ours.

Jake from State Farm wrote:

Dendrobates wrote:Be grateful you don't have a rare disease. I work in that field, and each patients treatment is 6 figures a year for the rest of their lives. But that shit will always be expensive because there are so few taking them, and it's the only thing keeping them alive. Overall though, orphan drugs make up less than 1% of costs in healthcare.

I recently got diagnosed with histoplasmosis, doc said treatment runs about $1000/month. He then told me that unless I have cancer and need chemotherapy or some other life threatening disease not to bother because it will probably go away on it's own.

The Pantry wrote:Lost faith in the medical industry many years ago. The "preventative care" thing has just been a rouse to keep getting money out of your pocket, recommending unnecessary tests and/or prescribing unneeded medication. The escalation of health care costs/premiums and the development of what I consider a hypochondriac culture through the media makes me ill.

The pharmaceutical TV ads have to be stopped, first. Complete bullshit they are allowed to make public sales pitches like, "Go talk to your doctor..." about getting a prescription for the shit they are selling.

The Pantry wrote:Lost faith in the medical industry many years ago. The "preventative care" thing has just been a rouse to keep getting money out of your pocket, recommending unnecessary tests and/or prescribing unneeded medication. The escalation of health care costs/premiums and the development of what I consider a hypochondriac culture through the media makes me ill.

The pharmaceutical TV ads have to be stopped, first. Complete bullshit they are allowed to make public sales pitches like, "Go talk to your doctor..." about getting a prescription for the shit they are selling.

MSU addict wrote:

By-Tor wrote:I'm at ground zero of this bull shit.  Luckily with some coupons from our doctor it knocked it down to about $450.   My HSA account took a nice hit    This price hike is also tied to the schools getting grants now for epipens.  The mfr saw free $$$ so got greedy.   I hope congress reams them with an epipen sans lube..

I am with you at ground zero.  My daughter is two and is off the charts in terms of reaction so the allergists says she needs three sets, one at the house, one at daycare, one with her at all times.  

$1,800 a year for fucking epipens (not to mention another $600 and an emergency room visit if she uses one).

Epinephrine has been around for over 100 years, a vial costs less ten bucks retail (enough for 67 epipens, or 133 epipen juniors that my daughter uses).  We live in a great country.

MSU addict wrote:

By-Tor wrote:I'm at ground zero of this bull shit.  Luckily with some coupons from our doctor it knocked it down to about $450.   My HSA account took a nice hit    This price hike is also tied to the schools getting grants now for epipens.  The mfr saw free $$$ so got greedy.   I hope congress reams them with an epipen sans lube..

I am with you at ground zero.  My daughter is two and is off the charts in terms of reaction so the allergists says she needs three sets, one at the house, one at daycare, one with her at all times.  

$1,800 a year for fucking epipens (not to mention another $600 and an emergency room visit if she uses one).

Epinephrine has been around for over 100 years, a vial costs less ten bucks retail (enough for 67 epipens, or 133 epipen juniors that my daughter uses).  We live in a great country.

MSU addict wrote:

By-Tor wrote:I'm at ground zero of this bull shit.  Luckily with some coupons from our doctor it knocked it down to about $450.   My HSA account took a nice hit    This price hike is also tied to the schools getting grants now for epipens.  The mfr saw free $$$ so got greedy.   I hope congress reams them with an epipen sans lube..

I am with you at ground zero.  My daughter is two and is off the charts in terms of reaction so the allergists says she needs three sets, one at the house, one at daycare, one with her at all times.  

$1,800 a year for fucking epipens (not to mention another $600 and an emergency room visit if she uses one).

Epinephrine has been around for over 100 years, a vial costs less ten bucks retail (enough for 67 epipens, or 133 epipen juniors that my daughter uses).  We live in a great country.