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CVS takes on Mylan’s EpiPen with Much Cheaper Version of an alternative

mbig

mbig

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About time this becomes widely available for about what it sells for in Europe
And also shows Mylan's Fraudulent cost numbers.
My guess is they're still making at last 50% profit even at 109.
(MW's title line seems redundant to me. Should have stopped with "...Version.")

CVS takes on Mylan's EpiPen with much cheaper version of an alternative - MarketWatch
CVS Drugstore chain is offering generic of Impax Labs Adrenaclick for a Sixth of the price of the EpiPen
takes on Mylan’s EpiPen with much cheaper version of an alternative
By Ciara Linnane
Published: Jan 15, 2017 12:01 p.m. ET

CVS said Thursday it is now offering a low-cost treatment for life-threatening allergies, after an outcry about the high cost of the best-selling product in the category, Mylan Inc.'s EpiPen.

CVS (CVS) said it is selling the authorized generic for Adrenaclick, an alternative to the EpiPen, that is made by Impax Laboratories Inc. (IPXL), priced at $109.99 for a two-pack.

That compares with the $649.99 cash price of an EpiPen and the $339.99 being charged for its authorized generic. Adrenaclick is an epinephrine auto-injector that was approved by the U.S. Food and Drug Administration in 2003.
[......]
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mbig said:
About time this becomes widely available for about what it sells for in Europe
And also shows Mylan's Fraudulent cost numbers.
My guess is they're still making at last 50% profit even at 109.
(MW's title line seems redundant to me. Should have stopped with "...Version.")

CVS takes on Mylan's EpiPen with much cheaper version of an alternative - MarketWatch
CVS Drugstore chain is offering generic of Impax Labs Adrenaclick for a Sixth of the price of the EpiPen
takes on Mylan’s EpiPen with much cheaper version of an alternative
By Ciara Linnane
Published: Jan 15, 2017 12:01 p.m. ET
Click to expand...
good on cvs..i've no problem with someone making a profit, but 600 bucks is a bit much
 
Oh look, the free market doing a thing that it does. :lol:
 
Mylan holds a government enforced monopoly. Mylan's CEO is the daughter of a congressman.

The outrage is directed at the private sector, when it should be directed at the government. It's funny how the folks who are the most outraged are the same ones that want out of control government regulation.
 
JayDubya said:
Oh look, the free market doing a thing that it does. :lol:
Click to expand...

If by "free market" you mean that: Company A owns the rights to a life saving product that saves hundreds of lives a year. Company A lobbies heavily to get their life saving product required in places of business, government offices, buildings and schools. And now that you are required to possess these, remember, they have to replaced every six months. Oh, and now that other stuff is required, Company A is going to raise the price of these life saving products by 400%. That kind of "free market"?
 
trblmkr said:
If by "free market" you mean that: Company A owns the rights to a life saving product that saves hundreds of lives a year. Company A lobbies heavily to get their life saving product required in places of business, government offices, buildings and schools. And now that you are required to possess these, remember, they have to replaced every six months. Oh, and now that other stuff is required, Company A is going to raise the price of these life saving products by 400%. That kind of "free market"?
Click to expand...

Well, the lobbying and mandating that places have such things is market interference I certainly don't like.

But them setting their own price is absolutely free market. Them setting it too high for short term gains creating a competitor who will sell it for far less and will benefit from consumer goodwill accordingly? Also free market.
 
dumb move on the part of Mylan. if i was a member of that board, i would have fought against the price gouging. they could have made a lot of money in the long term if they had just left it alone or even increased the price imperceptibly.
 
JayDubya said:
Oh look, the free market doing a thing that it does. :lol:
Click to expand...

This isn't a free market. The government regulated all of Mylan's competition out of the drug-pen business. Nothing free about that.
 
JayDubya said:
Well, the lobbying and mandating that places have such things is market interference I certainly don't like.

But them setting their own price is absolutely free market. Them setting it too high for short term gains creating a competitor who will sell it for far less and will benefit from consumer goodwill accordingly? Also free market.
Click to expand...

In the end, almost a free market. But it could have turned out differently depending on court decisions. And because of the 400% hike, the reduction to a 100% hike just seems so reasonable. And those regulations to purchase and re-purchase every six months are all still in place. This was greed. nothing more, nothing less. A quick and heavy return and a steady lower return to stock holders that generates a huge bonus for the CEO. All paid for by consumers. Aren't we all thrilled to pay twice as much for something because, yea, free market!!
 
JayDubya said:
Oh look, the free market doing a thing that it does. :lol:
Click to expand...

Now read patent law and how bigPharma plays with it before claiming the free market is at work... I have a feeling BigPharma will not allow this to stand for too long, a cabal isn't a benevolent 'being'... :peace
 
What? CVS takes on Marine Le Pen!!!!

Never mind.
 
apdst said:
Mylan holds a government enforced monopoly. Mylan's CEO is the daughter of a congressman.

The outrage is directed at the private sector, when it should be directed at the government. It's funny how the folks who are the most outraged are the same ones that want out of control government regulation.
Click to expand...

Everything you hate about big pharm is due to the way it's regulated by the government.
 
Helix said:
dumb move on the part of Mylan. if i was a member of that board, i would have fought against the price gouging. they could have made a lot of money in the long term if they had just left it alone or even increased the price imperceptibly.
Click to expand...

Lack of forward thinking covered with greed is how they screwed themselves. It will continue to bite Mylan in the ass, in more ways than one.
 
LowDown said:
Everything you hate about big pharm is due to the way it's regulated by the government.
Click to expand...

Businesses are blameless for all actions!
 
mbig said:
About time this becomes widely available for about what it sells for in Europe
And also shows Mylan's Fraudulent cost numbers.
My guess is they're still making at last 50% profit even at 109.
(MW's title line seems redundant to me. Should have stopped with "...Version.")

CVS takes on Mylan's EpiPen with much cheaper version of an alternative - MarketWatch
CVS Drugstore chain is offering generic of Impax Labs Adrenaclick for a Sixth of the price of the EpiPen
takes on Mylan’s EpiPen with much cheaper version of an alternative
By Ciara Linnane
Published: Jan 15, 2017 12:01 p.m. ET
Click to expand...

Methinks, the government should do something truly socialist in bent here: whenever a product goes off-patent, the government will produce that product if there appears to be predatory pricing, and sell it at a cost-recouping amount. BUT, private businesses are not prohibited from producing themselves if they wish to compete with the government on the theory that the government is necessarily inefficient.

Granted, the program wouldn't have costs that foreseeable, but this particular price-gouging problem is limited to drugs with a small well-defined treatment group.
 
LowDown said:
Everything you hate about big pharm is due to the way it's regulated by the government.
Click to expand...

That's not entirely true. One big problem is the big boys consolidate and buy out their competitors to limit competition and drive up prices. Here's an article by Forbes on the issue:

Forbes Welcome
 
notquiteright said:
Now read patent law and how bigPharma plays with it before claiming the free market is at work... I have a feeling BigPharma will not allow this to stand for too long, a cabal isn't a benevolent 'being'... :peace
Click to expand...

the patent is on the design of the pen not the drug itself.
the patent on the drug is over.
 
trblmkr said:
In the end, almost a free market. But it could have turned out differently depending on court decisions. And because of the 400% hike, the reduction to a 100% hike just seems so reasonable. And those regulations to purchase and re-purchase every six months are all still in place. This was greed. nothing more, nothing less. A quick and heavy return and a steady lower return to stock holders that generates a huge bonus for the CEO. All paid for by consumers. Aren't we all thrilled to pay twice as much for something because, yea, free market!!
Click to expand...

Another example of FDA and pharmaceutical companies working hand-in-glove, scratching each others back, is the case of the ancient drug product Colchicine.

https://en.wikipedia.org/wiki/Colchicine

Voila, with FDA manipulation, a pill that used to cost pennies now costs dollars.
 
trblmkr said:
If by "free market" you mean that: Company A owns the rights to a life saving product that saves hundreds of lives a year. Company A lobbies heavily to get their life saving product required in places of business, government offices, buildings and schools. And now that you are required to possess these, remember, they have to replaced every six months. Oh, and now that other stuff is required, Company A is going to raise the price of these life saving products by 400%. That kind of "free market"?
Click to expand...

No, he means CVS selling a competing product for cheaper. Which will no doubt drive the price of the Company A's product down.
 
ludin said:
the patent is on the design of the pen not the drug itself.
the patent on the drug is over.
Click to expand...

And eggs have no fur....what's your point? Fact is the cost of many drugs are rising far above any other consumer index.

The PEN is a big part of THE issue, a self contained non doctor delivered emergency medicine delivered at the first sign of attack.

Course self injectors have been around since my time in the Infantry... before many here were born. We carried atropine injectors in our protective mask carriers.

So you have a source for the pen being the patent issue? :peace
 
randel said:
good on cvs..i've no problem with someone making a profit, but 600 bucks is a bit much
Click to expand...

Really, I have no problem with a company making $600 profit either. But I love watching a company who thinks they are entitled to a $600 profit lose to a company that drastically undercuts them.

Competition is good.
 
mbig said:
About time this becomes widely available for about what it sells for in Europe
And also shows Mylan's Fraudulent cost numbers.
My guess is they're still making at last 50% profit even at 109.
(MW's title line seems redundant to me. Should have stopped with "...Version.")

CVS takes on Mylan's EpiPen with much cheaper version of an alternative - MarketWatch
CVS Drugstore chain is offering generic of Impax Labs Adrenaclick for a Sixth of the price of the EpiPen
takes on Mylan’s EpiPen with much cheaper version of an alternative
By Ciara Linnane
Published: Jan 15, 2017 12:01 p.m. ET
Click to expand...

I've got a pen.

I've got an epi !

UUUUUUUUUUUUH

EpiPen !
 
notquiteright said:
And eggs have no fur....what's your point? Fact is the cost of many drugs are rising far above any other consumer index.

The PEN is a big part of THE issue, a self contained non doctor delivered emergency medicine delivered at the first sign of attack.

Course self injectors have been around since my time in the Infantry... before many here were born. We carried atropine injectors in our protective mask carriers.

So you have a source for the pen being the patent issue? :peace
Click to expand...

https://www.statnews.com/2016/09/09/epipen-lack-of-innovation/

took 5 second of google searching.

you are blaming the wrong system. blame the medical patent system not the company.
 
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