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EpiPen: CEO Gets 671% Pay Raise To $18 M After Hiking Lifesaving Device Price

Wed, August 24, 2016 3:42pm EDT by 1 Comment
EpiPen Price Increase
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Yikes! The emergency allergy relief remedy, EpiPen, has skyrocketed in price over the past few years — and now many parents are outraged and terrified. Even worse, while children may now not get lifesaving medicine, it’s been revealed that drug company’s CEO has given herself a colossal raise — NOT a good look!

It’s hard to believe, but the price of an EpiPen has increased by a whopping 450 percent since 2004, when a dose cost $100 in today’s dollars, to its current price of more than $600! And you better believe people, especially mothers of allergic children, are NOT happy about the price surge. In fact, EpiPen maker Mylan has become the new public enemy number one in the pharmaceutical industry.

Now, while parents may not be able to buy lifesaving EpiPens for their allergic children, it’s been reported that the CEO of Mylan, Heather Bresch, has received HUGE pay increases over the years — with her yearly compensation rising from $2,453,456 in 2007 to $18,931,068 last year, according to filings reported by NBC News. And she’s not the only Mylan exec to receive crazy-large bonuses either.

In response, the public has taken to Twitter expressing their anger towards such “selfishness” and “unfairness.” Even presidential nominee Hillary Clinton, 68, has joined the conversation, making it clear that she strives to right this wrong and provide more affordable EpiPens for people who rely on them on a daily basis.

There’s no question this dramatic price increase has negatively effected people across the country. Take Amie Vialet De Montbel, for instance. The mom, whose son suffers from a milk allergy, found that the two 2-packs of EpiPens she needed for him would cost $1,212. “I don’t even pay that much for my mortgage,” she told Stat News. She ended up NOT purchasing the medicine.

Likewise Jackie Davis of Newport News, Va. was quoted $1,500 for three 2-packs of EpiPens  — and that price includes a discount, according to USA Today. “For any kind of necessary medicine, you shouldn’t have to pay anything,” Jackie said.

And what’s even more concerning is that the medication itself isn’t even expensive. Analysts calculate that the dosage contained in a single pen is worth about $1, according to The Washington Post. It’s the company’s proprietary pen injector that makes up the bulk of the cost — and clearly Mylan has taken advantage of that fact.

And following these complaints from consumers, members of Congress are calling for an investigation into Mylan and how they’ve been handling business. Stay tuned!

Tell us, HollywoodLifers — what do you think of this insane EpiPen price surge? What should be done about it?