the soaring cost of drugs has sparked a public outcry across the United States
public outcry across the United States
public outcry across the United States in 2016 there is no evidence that I’m
in 2016 there is no evidence that I’m
in 2016 there is no evidence that I’m aware of that
aware of that
aware of that this price increase was driven by a need
this price increase was driven by a need
this price increase was driven by a need welcome to watchmojo.com Ono tool called
welcome to watchmojo.com Ono tool called
welcome to watchmojo.com Ono tool called my lens epi pen price hikes pompous and
my lens epi pen price hikes pompous and
my lens epi pen price hikes pompous and greedy in this installment we’re
greedy in this installment we’re
greedy in this installment we’re counting down five crucial facts you
counting down five crucial facts you
counting down five crucial facts you should know about the rising cost of the
should know about the rising cost of the
should know about the rising cost of the epi pen health insurance landscape is
epi pen health insurance landscape is
epi pen health insurance landscape is partly to blame for the rising consumer
partly to blame for the rising consumer
partly to blame for the rising consumer costs especially for people with high
costs especially for people with high
costs especially for people with high deductibles number five what is an
deductibles number five what is an
deductibles number five what is an EpiPen an epinephrine auto-injector more
EpiPen an epinephrine auto-injector more
EpiPen an epinephrine auto-injector more commonly known by its commercial name
commonly known by its commercial name
commonly known by its commercial name EpiPen is a crucial piece of a medical
EpiPen is a crucial piece of a medical
EpiPen is a crucial piece of a medical kit for anyone at risk of suffering
kit for anyone at risk of suffering
kit for anyone at risk of suffering severe allergic or possibly fatal
severe allergic or possibly fatal
severe allergic or possibly fatal anaphylactic reactions the device
anaphylactic reactions the device
anaphylactic reactions the device delivers a measured dose of epinephrine
delivers a measured dose of epinephrine
delivers a measured dose of epinephrine or adrenaline into the user’s system
or adrenaline into the user’s system
or adrenaline into the user’s system using a spring-loaded needle giving
using a spring-loaded needle giving
using a spring-loaded needle giving quick and crucial treatment to what can
quick and crucial treatment to what can
quick and crucial treatment to what can be a life-threatening condition the
be a life-threatening condition the
be a life-threatening condition the design was initially developed for the
design was initially developed for the
design was initially developed for the US military with former NASA employee
US military with former NASA employee
US military with former NASA employee and biomechanical engineer Sheldon
and biomechanical engineer Sheldon
and biomechanical engineer Sheldon Kaplan widely credited as its inventor
Kaplan widely credited as its inventor
Kaplan widely credited as its inventor today the technology has been adapted
today the technology has been adapted
today the technology has been adapted for general use and many severe allergy
for general use and many severe allergy
for general use and many severe allergy sufferers carry it on their person in
sufferers carry it on their person in
sufferers carry it on their person in case of emergency according to
case of emergency according to
case of emergency according to pharmaceutical company Milan the
pharmaceutical company Milan the
pharmaceutical company Milan the marketers and distributors of the EpiPen
marketers and distributors of the EpiPen
marketers and distributors of the EpiPen quote as many as 8 million Americans or
quote as many as 8 million Americans or
quote as many as 8 million Americans or two-and-a-half percent of the US
two-and-a-half percent of the US
two-and-a-half percent of the US population have food allergies and these
population have food allergies and these
population have food allergies and these statistics have been steadily rising in
statistics have been steadily rising in
statistics have been steadily rising in recent years while not every allergy is
recent years while not every allergy is
recent years while not every allergy is severe enough to warrant an EpiPen there
severe enough to warrant an EpiPen there
severe enough to warrant an EpiPen there is a huge need for the device and a
is a huge need for the device and a
is a huge need for the device and a massive market number four what happened
massive market number four what happened
massive market number four what happened to the price of drugs marketing rights
to the price of drugs marketing rights
to the price of drugs marketing rights for the EpiPen were acquired by US Dutch
for the EpiPen were acquired by US Dutch
for the EpiPen were acquired by US Dutch pharmaceutical company Milan in 2007
pharmaceutical company Milan in 2007
pharmaceutical company Milan in 2007 with annual sales around 200 million
with annual sales around 200 million
with annual sales around 200 million dollars at the time but as of August
dollars at the time but as of August
dollars at the time but as of August 2016
2016
2016 yearly figures had surpassed 1.3 billion
yearly figures had surpassed 1.3 billion
yearly figures had surpassed 1.3 billion dollars the rise has been attributed to
dollars the rise has been attributed to
dollars the rise has been attributed to a change in marketing tactics and
a change in marketing tactics and
a change in marketing tactics and dramatic increase in the cost of the
dramatic increase in the cost of the
dramatic increase in the cost of the product beginning in 2009 a series of
product beginning in 2009 a series of
product beginning in 2009 a series of price hikes has seen the retail value of
price hikes has seen the retail value of
price hikes has seen the retail value of a pack of two EpiPens
a pack of two EpiPens
a pack of two EpiPens rise more than 400 percent from around
rise more than 400 percent from around
rise more than 400 percent from around $100 to around $600 as a result Milan
$100 to around $600 as a result Milan
$100 to around $600 as a result Milan and EpiPen have come to symbolize the
and EpiPen have come to symbolize the
and EpiPen have come to symbolize the rising price of drugs in America
rising price of drugs in America
rising price of drugs in America generally a combination of increased
generally a combination of increased
generally a combination of increased insurance premiums and hiked
insurance premiums and hiked
insurance premiums and hiked over-the-counter costs means that the
over-the-counter costs means that the
over-the-counter costs means that the patient is forced to pay more on two
patient is forced to pay more on two
patient is forced to pay more on two fronts because the EpiPen has so many
fronts because the EpiPen has so many
fronts because the EpiPen has so many patients depending on it however and
patients depending on it however and
patients depending on it however and because of the rapidity and regularity
because of the rapidity and regularity
because of the rapidity and regularity with which it’s price has increased the
with which it’s price has increased the
with which it’s price has increased the company has come under particularly
company has come under particularly
company has come under particularly strong criticism what am I supposed to
strong criticism what am I supposed to
strong criticism what am I supposed to choose between putting food on my table
choose between putting food on my table
choose between putting food on my table between paying rent or between buying
between paying rent or between buying
between paying rent or between buying the EpiPen
the EpiPen
the EpiPen also since the dosage carried in the
also since the dosage carried in the
also since the dosage carried in the device costs only around one dollar and
device costs only around one dollar and
device costs only around one dollar and the technology itself which costs only a
the technology itself which costs only a
the technology itself which costs only a few dollars more to produce appears
few dollars more to produce appears
few dollars more to produce appears largely unchanged since Milan took over
largely unchanged since Milan took over
largely unchanged since Milan took over question marks have been raised as to
question marks have been raised as to
question marks have been raised as to why patients are being charged so much
why patients are being charged so much
why patients are being charged so much more now number three what is the
more now number three what is the
more now number three what is the reaction been to the price hikes
reaction been to the price hikes
reaction been to the price hikes criticism has been widespread in public
criticism has been widespread in public
criticism has been widespread in public and political circles Democratic
and political circles Democratic
and political circles Democratic presidential candidate Hillary Clinton
presidential candidate Hillary Clinton
presidential candidate Hillary Clinton has labeled development as quote
has labeled development as quote
has labeled development as quote outrageous while the American Medical
outrageous while the American Medical
outrageous while the American Medical Association has urged Milan to quote
Association has urged Milan to quote
Association has urged Milan to quote rein in these exorbitant costs according
rein in these exorbitant costs according
rein in these exorbitant costs according to further reports the Senate is set to
to further reports the Senate is set to
to further reports the Senate is set to carry out an investigation into the
carry out an investigation into the
carry out an investigation into the company that could see it pulled before
company that could see it pulled before
company that could see it pulled before Congress upon announcing the price hikes
Congress upon announcing the price hikes
Congress upon announcing the price hikes in August 2016 Milan also suffered on
in August 2016 Milan also suffered on
in August 2016 Milan also suffered on the markets with stock losing over five
the markets with stock losing over five
the markets with stock losing over five percent and reports emerged of Americans
percent and reports emerged of Americans
percent and reports emerged of Americans shopping for EpiPens in other nations
shopping for EpiPens in other nations
shopping for EpiPens in other nations including Canada where costs are
including Canada where costs are
including Canada where costs are significantly lower Milan CEO heather
significantly lower Milan CEO heather
significantly lower Milan CEO heather brush has insisted that she is as quote
brush has insisted that she is as quote
brush has insisted that she is as quote frustrated as the American public
frustrated as the American public
frustrated as the American public however look no one’s more frustrated
however look no one’s more frustrated
however look no one’s more frustrated than me I’ve been immature rages you’re
than me I’ve been immature rages you’re
than me I’ve been immature rages you’re the one raising here so how can you be
the one raising here so how can you be
the one raising here so how can you be frustrated brash cited problems with the
frustrated brash cited problems with the
frustrated brash cited problems with the US healthcare system in general as
US healthcare system in general as
US healthcare system in general as reason for the increased hepa pen cost
reason for the increased hepa pen cost
reason for the increased hepa pen cost referring to a healthcare quote crisis
referring to a healthcare quote crisis
referring to a healthcare quote crisis and comparing it to 2007 s mortgage
and comparing it to 2007 s mortgage
and comparing it to 2007 s mortgage financial crisis our health care is in a
financial crisis our health care is in a
financial crisis our health care is in a crisis it’s no different than the
crisis it’s no different than the
crisis it’s no different than the mortgage financial crisis
mortgage financial crisis
mortgage financial crisis back in 2007 this bubble is going to
back in 2007 this bubble is going to
back in 2007 this bubble is going to burn bubble what are you referring to
burn bubble what are you referring to
burn bubble what are you referring to according to Brush EpiPens list price of
according to Brush EpiPens list price of
according to Brush EpiPens list price of six hundred and eight dollars reflects
six hundred and eight dollars reflects
six hundred and eight dollars reflects how it is passed through four or five
how it is passed through four or five
how it is passed through four or five companies before it can be sold fresh
companies before it can be sold fresh
companies before it can be sold fresh noted mile ins net profit from every
noted mile ins net profit from every
noted mile ins net profit from every sale as two hundred and seventy four
sale as two hundred and seventy four
sale as two hundred and seventy four dollars and she highlighted how heavily
dollars and she highlighted how heavily
dollars and she highlighted how heavily the company had invested in placing
the company had invested in placing
the company had invested in placing EpiPens in schools across the country
EpiPens in schools across the country
EpiPens in schools across the country number two is there a price gouging
number two is there a price gouging
number two is there a price gouging trend in the pharmaceutical industry the
trend in the pharmaceutical industry the
trend in the pharmaceutical industry the u.s. prescription drugs industry is
u.s. prescription drugs industry is
u.s. prescription drugs industry is proving exceptionally and increasingly
proving exceptionally and increasingly
proving exceptionally and increasingly lucrative as the case of the EpiPen
lucrative as the case of the EpiPen
lucrative as the case of the EpiPen falls into a wider gouging trend
falls into a wider gouging trend
falls into a wider gouging trend according to the Journal of the AMA
according to the Journal of the AMA
according to the Journal of the AMA between 2013 and 2015
between 2013 and 2015
between 2013 and 2015 net spending on prescription drugs in
net spending on prescription drugs in
net spending on prescription drugs in the u.s. increased around 20 percent and
the u.s. increased around 20 percent and
the u.s. increased around 20 percent and there are some recent high-profile
there are some recent high-profile
there are some recent high-profile examples where companies have pushed
examples where companies have pushed
examples where companies have pushed spending up in November 2015 the US
spending up in November 2015 the US
spending up in November 2015 the US Senate investigated touring
Senate investigated touring
Senate investigated touring pharmaceuticals after it acquired rights
pharmaceuticals after it acquired rights
pharmaceuticals after it acquired rights to sell daraprim a life-saving pill that
to sell daraprim a life-saving pill that
to sell daraprim a life-saving pill that is used as an anti-malarial drug and the
is used as an anti-malarial drug and the
is used as an anti-malarial drug and the treats toxoplasmosis in hiv-positive
treats toxoplasmosis in hiv-positive
treats toxoplasmosis in hiv-positive patients within weeks of taking over
patients within weeks of taking over
patients within weeks of taking over touring increased the cost of the drug
touring increased the cost of the drug
touring increased the cost of the drug by over five thousand percent from about
by over five thousand percent from about
by over five thousand percent from about $13.50 to $750 per pill turning is a
$13.50 to $750 per pill turning is a
$13.50 to $750 per pill turning is a very small company it’s a new company
very small company it’s a new company
very small company it’s a new company and we’re not a profitable company so
and we’re not a profitable company so
and we’re not a profitable company so for us to try to exist and maintain a
for us to try to exist and maintain a
for us to try to exist and maintain a profit I think is pretty reasonable
profit I think is pretty reasonable
profit I think is pretty reasonable again this isn’t an isolated case as a
again this isn’t an isolated case as a
again this isn’t an isolated case as a 2014 House of Representatives report
2014 House of Representatives report
2014 House of Representatives report found that as many as ten generic drugs
found that as many as ten generic drugs
found that as many as ten generic drugs had been subject to massive price hikes
had been subject to massive price hikes
had been subject to massive price hikes of four hundred and twenty to eight
of four hundred and twenty to eight
of four hundred and twenty to eight thousand percent compared to 2013
thousand percent compared to 2013
thousand percent compared to 2013 critics have labeled the likes of brush
critics have labeled the likes of brush
critics have labeled the likes of brush as well as former touring CEO Martin
as well as former touring CEO Martin
as well as former touring CEO Martin shkreli as quote profit ears using human
shkreli as quote profit ears using human
shkreli as quote profit ears using human need for personal gain do you think
need for personal gain do you think
need for personal gain do you think you’ve done anything wrong on the advice
you’ve done anything wrong on the advice
you’ve done anything wrong on the advice of counsel I invoke my Fifth Amendment
of counsel I invoke my Fifth Amendment
of counsel I invoke my Fifth Amendment privilege against self-incrimination and
privilege against self-incrimination and
privilege against self-incrimination and respectfully declined to answer your
respectfully declined to answer your
respectfully declined to answer your question while some patients suffer
question while some patients suffer
question while some patients suffer business appears to boom number one
business appears to boom number one
business appears to boom number one what’s next for the people who need the
what’s next for the people who need the
what’s next for the people who need the drug as an EpiPen can be a life-saving
drug as an EpiPen can be a life-saving
drug as an EpiPen can be a life-saving piece of equipment for thousands of
piece of equipment for thousands of
piece of equipment for thousands of people
people
people the
the
the and for the device isn’t likely to
and for the device isn’t likely to
and for the device isn’t likely to decrease meaning those in need of an
decrease meaning those in need of an
decrease meaning those in need of an auto-injector may be forced to look
auto-injector may be forced to look
auto-injector may be forced to look elsewhere if they can’t afford it at
elsewhere if they can’t afford it at
elsewhere if they can’t afford it at u.s. prices lesser known brand Audrina
u.s. prices lesser known brand Audrina
u.s. prices lesser known brand Audrina click offers a similar much cheaper but
click offers a similar much cheaper but
click offers a similar much cheaper but slightly more complicated product to use
slightly more complicated product to use
slightly more complicated product to use obtainable if prescribed by a doctor as
obtainable if prescribed by a doctor as
obtainable if prescribed by a doctor as Milan holds such a monopoly on the
Milan holds such a monopoly on the
Milan holds such a monopoly on the market other alternative brands are
market other alternative brands are
market other alternative brands are scarce Milan itself insists that there
scarce Milan itself insists that there
scarce Milan itself insists that there are ways for lower-income families to
are ways for lower-income families to
are ways for lower-income families to get an EpiPen however in the wake of the
get an EpiPen however in the wake of the
get an EpiPen however in the wake of the criticism the company announced plans to
criticism the company announced plans to
criticism the company announced plans to triple its co-pay assistance program
triple its co-pay assistance program
triple its co-pay assistance program from $100 to $300 and that it will
from $100 to $300 and that it will
from $100 to $300 and that it will increase eligibility for the program
increase eligibility for the program
increase eligibility for the program meaning more patients will qualify for
meaning more patients will qualify for
meaning more patients will qualify for discounts Milan further announced on
discounts Milan further announced on
discounts Milan further announced on August 29th 2016 that our more
August 29th 2016 that our more
August 29th 2016 that our more affordable generic product would be put
affordable generic product would be put
affordable generic product would be put on the market in the following weeks
on the market in the following weeks
on the market in the following weeks though it will be identical to the
though it will be identical to the
though it will be identical to the EpiPen other than the lack of the brand
EpiPen other than the lack of the brand
EpiPen other than the lack of the brand name its list price would not be selling
name its list price would not be selling
name its list price would not be selling for approximately three hundred dollars
for approximately three hundred dollars
for approximately three hundred dollars however as of the same date the list
however as of the same date the list
however as of the same date the list price of the original is set to remain
price of the original is set to remain
price of the original is set to remain the same while US lawmakers have
the same while US lawmakers have
the same while US lawmakers have welcomed such moves they’ve also said
welcomed such moves they’ve also said
welcomed such moves they’ve also said that more needs to be done a
that more needs to be done a
that more needs to be done a spokesperson for Hillary Clinton called
spokesperson for Hillary Clinton called
spokesperson for Hillary Clinton called the plans quote insufficient and other
the plans quote insufficient and other
the plans quote insufficient and other lawmakers have labeled it a PR stunt for
lawmakers have labeled it a PR stunt for
lawmakers have labeled it a PR stunt for allergy sufferers and parents of
allergy sufferers and parents of
allergy sufferers and parents of children at risk the issue remains the
children at risk the issue remains the
children at risk the issue remains the same regardless an EpiPen is vital for
same regardless an EpiPen is vital for
same regardless an EpiPen is vital for their child’s safety
their child’s safety
their child’s safety multiple devices are often required they
multiple devices are often required they
multiple devices are often required they can’t be reused and they have a short
can’t be reused and they have a short
can’t be reused and they have a short shelf life so at more than $600 for just
shelf life so at more than $600 for just
shelf life so at more than $600 for just two pens it’s a problem that just
two pens it’s a problem that just
two pens it’s a problem that just doesn’t add up
doesn’t add up
doesn’t add up did these facts get you thinking I think
did these facts get you thinking I think
did these facts get you thinking I think this actually calls for a lot more
this actually calls for a lot more
this actually calls for a lot more investigation a lot more questions to
investigation a lot more questions to
investigation a lot more questions to vote for which news story is covered
vote for which news story is covered
vote for which news story is covered next
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every week people are outraged because
every week people are outraged because it seems outrageous
it seems outrageous
it seems outrageous [Music]
[Music]
[Music] Oh
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