EpiPen maker defends price hike: ‘I’m running a business’

EpiPen maker defends price hike: ‘I’m running a business’
© Mylan
The chief executive of Mylan Pharmaceuticals says the controversial price spike of EpiPen allergy medication is just a cost of running a business.
 
In a Friday interview with The New York Times, CEO Heather Bresch did not apologize for the sharp price increase of the epinephrine injector that is used to counter life-threatening allergic reactions.
 
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“I think we mean what we say: You can do good and do well, and I think we strike that balance around the globe,” she said.
 
“I am running a business. I am a for-profit business. I am not hiding from that.”
 
Bresch justified the price hike — which saw EpiPen costs rise from about $100 to $600 in the last nine years — as a necessary measure to pay for the company's investment in the product.
 
She also attempted to shift the blame from the company, noting that consumers are likely hit by increasing costs placed on them by the insurers. 
 
“What else do you shop for that when you walk up to the counter, you have no idea what it’s going to cost you?” she said. “Tell me where that happens anywhere else in the system. It’s unconscionable.”
 
In an effort to offset the price spike of EpiPen, Mylan announced Thursday that it will attempt to decrease the out-of-pocket consumer expenses by providing patients with additional financial assistance. 
 
 
"I look forward to reviewing their response in detail and working with my colleagues and all interested parties to lower the price of prescription drugs and to continue to improve our healthcare system," he said, according to ABC News.