Mylan Pharmaceuticals‘ (NSDQ:MYL) 500% price increase on its epinephrine auto-injector cost the U.S Defense Dept. millions, according to data provided to Reuters.
The Pentagon spent $57 million on Mylan’s EpiPen last year, up from $9 million in 2008, largely driven by volume and price hikes that affected prescriptions filled at retail pharmacies. Although the Pentagon gets a government discount for EpiPens from military treatment facilities and by mail order, nearly half of its spending was at retail pharmacies. Recently, it paid an average of $528 for a two-pack of the lifesaving allergy treatment. That’s 3 times higher than the discounted rate, according to the news service.
Get the full story at our sister site, Drug Delivery Business News.
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