EpiPen Price Hike Has Parents of Kids With Allergies Scrambling Ahead of School Year | NECN

EpiPen Price Hike Has Parents of Kids With Allergies Scrambling Ahead of School Year

Following a recall by Mylan's chief competitor last year, the company now enjoys a near monopoly

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    EpiPens see price spike.

    Doctors and patients say the pharmaceutical company Mylan has increased the prices for an EpiPen — the portable device that can stop a potentially life-threatening allergic reaction — from around $100 in 2008 to $500 or more today, NBC News reports.

    Following a recall by Mylan's chief competitor last year, the company now enjoys a near monopoly.

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    EpiPens have a stated expiration date of one year, meaning there is an additional co-pay to refill them annually.

    In a statement, Mylan said that the prices have "changed over time to better reflect important product features and the value the product provides."

    Vermont Sen. Bernie Sanders said "there's no reason an EpiPen, which costs Mylan just a few dollars to make, should cost families more than $600. The only explanation for Mylan raising the price by six times since 2009 is that the company values profits more than the lives of millions of Americans."