For anyone with severe allergies, the EpiPen is a lifesaving drug. It opens airways and narrows blood vessels during an allergy attack through the injection of epinephrine into the body. But it's been in the news for reasons other than its benefits lately. The price of an EpiPen two-pack has gone up by more than 400% in some parts of the U.S., making the drug appear to be more of a luxury than a necessity to many who rely on it.
Right now, Mylan is the only company producing the pens, giving them a monopoly on the drug. However, Mylan lost a lawsuit in 2012 fighting to prohibit a generic brand from entering the market. Many believe this prompted the drastic price hike as Mylan prepares to lose business to the more affordable generic option.
The company came under attack from moms on Facebook to Democratic presidential nominee Hillary Clinton after the cost of an EpiPen two-pack rose to a list price of over $600. As a result, Mylan announced a plan to make the drug more affordable to some. They will now issue instant savings cards to those paying full price out of pocket for their EpiPens. This still isn't an acceptable solution for some critics, though.
Mylan CEO Heather Bresch claims her company is not the villain in the EpiPen debacle. According to her, these outrageous prices are the direct result of America's "broken" health care system. "The leaders of this country need to quit putting their toe in this topic and really fix the system. We have an outdated, inefficient system," Bresch said on CNBC's "Squawk Box" talkshow.