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.

    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."

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    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."