EpiPen's Billion-Dollar Profits Have the World Absolutely Furious
According to documents, Mylan, the manufacturer of the life-saving EpiPen, is expecting over one billion dollars in net sales, despite its controversial prices.
It seems very little can save Mylan from its continually decreasing public reputation – perhaps not even its auto-injection epinephrine drug, commonly known as the EpiPen.
Just over a month ago, the now-infamous pharmaceutical company hiked the EpiPen's consumer cost to nearly $600, and now Mylan finds itself in the center of another scalding debate as court documents recently revealed the company projects profits of nearly $1.1 billion in net sales this year alone. While the company claims to only make $50 for every EpiPen sold, this potential revenue suggests otherwise. For patients with life-threatening allergies, Mylan's actions put people's very well-being at risk.
Almost immediately after the announcement of the EpiPen's shockingly high price raise, Sarah Jessica Parker was among the first celebrities to speak out against the company's divisive actions. In her public statement, she laments how "millions of people are dependent on the device," and steadfastly terminated her relationship with Mylan.
Given Mylan's profit revelation, parents, politicians, and allergy sufferers alike are taking to social media to collectively express their frustration.
In an effort to help combat negative press, Mylan stated it would release half-price EpiPens and distribute coupons to lesser-advantaged families, but the company's efforts to convince consumers have yet to leave lasting impressions on the allergy-affected community.
Lawmakers are now attempting to expedite the generic competitor production process to challenge Mylan's virtual monopoly, but for allergy sufferers in need of affordable, non-negotioable medication, time is of the essence.