Friday, August 26, 2016

EpiPen Becomes Epi-Rage

Mylan protected by FDA inaction is raping the 43 million allergic patients in the U.S.
By generic competition of potential auto injectors to EpiPen suppress
Mylan has spent a fortune not developing the auto injector as an effective life saving tool
No the rights were purchased, the money was spent to have laws in 47 states mandate auto injectors be located in schools  
From 57 dollars to a price of 600 dollars as schools begin to reopen their doors
A growing outrage that the company will not be able to ignore
The Mylan board must be asleep at the public relations switch
The CEO Heather Bresch who started at the bottom is now very rich
From a paltry 2.4 million dollars in 2007 when named COO to 19 million dollars last year
As the stock which pays no dividends soared from near 15 to the low 70’s before erosion began to appear
It has been shedding value like a major case of dandruff
Closing at 42 and with the public outrage its sledding going forward may be tough
Is this merely a case of capitalism gone awry that demands price controls on life saving brands
Or is this another case of political influence of the FDA when it comes to generics sitting on its hands?
The only competitor to Mylan withdrew from the auto-inject market leaving Mylan with the ability to set monopoly prices
The FDA rejected the application of Teva to compete with the EpiPen of Mylan so they will have to file it in 2017 twice
The FDA also made it illegal for pharmacies to substitute Adrenaclick for EpiPen
Until another auto-inject is on the market patients are agonizing when
Where there safety concerns or did the shadow of Senator Manchin, Heather’s father, come into play?
This is not about the evils of capitalism but the evils of heavy regulation by the feds on display
© August 26, 2016, Michael P. Ridley aka the Alaskanpoet
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