Saturday, August 27, 2016
Constants and variables 48
An informative story on the EpiPen shit misses one point.
The Monopolistic Origins of the EpiPen The autoinjector known as the EpiPen provides injections of epinephrine in cases of serious or even life-threatening allergy attacks. It is derived from another product known as the Mark I NAAK ComboPen, a device created for a monopoly: the U.S. military. The device was designed by Sheldon Kaplan for Survival Technology, Inc., a company with a long history of working with the Pentagon. Once the ComboPen was created, it was sent to the U.S. military to treat soldiers who had been exposed to nerve agents. In 2007, Mylan “purchased the generic drugs division of Germany’s Merck KGaA for $6.7 billion,” acquiring the EpiPen brand of autoinjectors. Under Merck, the devices cost $7 each, which resulted in just $200 million in gains each year, a mere 5 percent of Merck’s revenue at the time.Well then, monopoly isn't the important variable. Merck already had a monopoly on EpiPen, and priced it at an eminently affordable $7. Mylan immediately raised that to $57, then to $600 for two. Merck is a German company, working within a RATIONAL health care system with RATIONAL regulations. Mylan is an American company, working within an omnicidal loonybin. There's your variable.
Labels: Constants and Variables
¶ 9:33 AM
