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WASHINGTON – A pharmaceutical company has been under scrutiny after prices for a lifesaving drug spiked in recent years.
Doctors and patients say the Mylan pharmaceutical company has jacked up the prices for an EpiPen — the portable device that can stop a potentially life-threatening allergic reaction — from around $100 in 2008 to $500 and up today.
“Patients are calling and saying they can’t afford it,” said Dr. Douglas McMahon, an allergy specialist in Maplewood, Minnesota. “They’re between a rock and a hard place.”
Since there is not a true generic form of the EpiPen, patients are either buying abroad for lower costs or creating their own DIY syringes with epinephrine.
Now, NBC News reports that executive salaries have also seen a dramatic uptick in recent years.
From 2007 to 2015, Mylan CEO Heather Bresch’s total compensation went from $2.4 million to $18,9 million, a 671 percent increase.
During that same time period, experts say the company raised the price of EpiPens over 400 percent.
On Monday, Sen. Amy Klobuchar wrote a letter to the FTC, calling for an investigation into the hikes.
“The Commission takes seriously its obligation to take action when pharmaceutical companies have violated the antitrust laws, and it will continue to closely scrutinize drug market competition on consumers’ behalf,” a statement from the FTC read.