Hillary Clinton Statement on EpiPen Pricing

Hillary Clinton called out drug maker Mylan for the increase in the price of its EpiPen product. An EpiPen is used to prevent anaphylactic shock by those with serious allergy attacks. The active drug in the product, the hormone epinephrine, costs less than $1 for the amount in a single dose. Yet, researchers note that the price of the EpiPen has increased 400% over the past few years with one EpiPen costing $57 in 2007 and a two pack of EpiPens costing $600 today. Clinton is not alone in asking Mylan for explanation. Senators Susan Collins of Maine and Claire McCaskill of Missouri have also sent letters to the manufacture. Late last year, Clinton proposed updates to prescription drug regulations that will prevent drug makers from overcharging for medications. A copy of Clinton’s statement is below.

“Millions of Americans with severe allergies rely on their EpiPens.  When an allergic reaction leads to anaphylactic shock, a shot of epinephrine can literally be the difference between life and death.  But now, just as parents are about to send kids with severe food and insect allergies back to school, the EpiPen’s manufacturer is hiking its price to an all-time high.

Over the last several years, Mylan Pharmaceuticals has increased the price of EpiPens by more than 400%.  They’re now charging up to $600 for a two-EpiPen set that must be replaced every 12-18 months. This both increases out-of-pocket costs for families and first responders, and contributes to higher premiums for all Americans and their employers.

That’s outrageous — and it’s just the latest troubling example of a company taking advantage of its consumers. I believe that our pharmaceutical and biotech industries can be an incredible source of American innovation, giving us revolutionary treatments for debilitating diseases.  But it’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them. 

That’s why I’ve put forward a plan to address exorbitant drug price hikes like these.  As part of my plan, I’ve made clear that pharmaceutical manufacturers should be required to explain significant price increases, and prove that any additional costs are linked to additional patient benefits and better value.  Since there is no apparent justification in this case, I am calling on Mylan to immediately reduce the price of EpiPens.

In addition, when it comes to treatments like delivering epinephrine that have been available for decades, my plan encourages the production of alternative products.  That’s how we can harness the power of competition to keep drug prices at a level that all Americans can afford.”

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News Source: The Verge

Clinton Unveils Prescription Drug Plan in Iowa

On Tuesday, Hillary Rodham Clinton continued addressing heath care issues by announcing her plan to curb the rising costs of prescription drugs. Speaking at Moulton Elementary School in Des Moines, Iowa, Clinton said that, “We’re going to add on to the good work that was done by the Affordable Care Act.” The plan she outlined would require pharmaceutical companies to reinvest profits into research, allow for the import of drugs from other countries, expand opportunities for generic medications, allow Medicare to negotiate for lower drug costs, and cap the out-of-pocket expense for everyday Americans with chronic health issues.

Clinton made it clear that she would tougher on the companies, especially since many of them receive tax payer funded grants from the government to supplement the funding of their research. Then, they charge an exorbitant amount for the drug. She said, “That is not the way the market is supposed to work. That is bad actors making a fortune off of people’s misfortune. Pharmaceutical companies can charge astronomical fees, far beyond anything it would take to recoup their investment and far beyond.” Read a full fact sheet of Clinton’s plan from The Briefing.

Clinton also made headlines during the event when she declared that she is against the building of the Keystone XL Pipeline. She said, “I think it is imperative that we look at the Keystone XL pipeline as what I believe it is: A distraction from the important work we have to do to combat climate change, and, unfortunately from my perspective, one that interferes with our ability to move forward and deal with other issues. Therefore, I oppose it. I oppose it because I don’t think it’s in the best interest of what we need to do to combat climate change.” The video below is not complete and will be updated when/if a full is available.

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News Source: USA Today, CNN, NBC News

BIO International Convention

Wednesday, June 25, 2014 

Hillary Rodham Clinton appeared at the BIO International Convention in San Diego, California. The convention was for the biotech industry, which includes a number of pharmaceutical companies. Clinton sees a trend that biotech companies are outsourcing operations, something that concerns her. Clinton wants this change, saying, “I don’t want to see biotech companies or pharma companies moving out of our country simply because of some perceived tax disadvantage and potential tax advantage somewhere else,”

News Source: NBC San Diego