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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEpiPen maker’s stock value drops nearly $3 billion in 5 days as investors panic
Mylan Pharmaceuticals the company behind the price gouging of the EpiPen is experiencing serious karmic retribution in the stock market.
In just five days, Mylans stock has tanked by 12.4 percent as outrage over its astronomical price increases of the life-saving EpiPen has reached a boiling point. Mylans stock price went from a high of $49.20 per share on August 19 to $43.11 on August 24, according to MarketWatch:
more at http://usuncut.com/class-war/epipen-makers-stock-value-drops-3-billion-5-days-investors-panic/
Sherman A1
(38,958 posts)and may it continue to do so as investors separate themselves from this brand and this company.
Photographer
(1,142 posts)NanceGreggs
(27,813 posts)What a shame.
Hekate
(90,564 posts)WestCoastLib
(442 posts)6 bucks is just a blip, from public outrage, that will not be lasting if this is as low as it goes.
Let it get down under $20 and it will be some real(financial) justice for some of the people responsible here.
I hope people keep selling, and it does.
gopiscrap
(23,726 posts)Cryptoad
(8,254 posts)almost insured that they have a monopoly on this drug. .. this must change.
Photographer
(1,142 posts)KittyWampus
(55,894 posts)Last edited Thu Aug 25, 2016, 11:22 AM - Edit history (1)
name recognition.
Epinephrine is not "monopolized" by Mylan.
Edit- the reporting on this has been very, very bad.
Cryptoad
(8,254 posts)not made in the USA and then tell us all about it.
KittyWampus
(55,894 posts)for a fraction of the price.
Cryptoad
(8,254 posts)since same drugs can be purchase at a fraction of the cost. Do u know what Medicare actually pays for a pen?
awoke_in_2003
(34,582 posts)to Chinese made medicine, if I had a say in the matter.
KittyWampus
(55,894 posts)awoke_in_2003
(34,582 posts)I didn't mean to imply it was made in China but to say, to some degree, I do care about where things are made.
Helen Borg
(3,963 posts)By producing low-cost alternatives? It happened in previous cases...
TreasonousBastard
(43,049 posts)Cryptoad
(8,254 posts)read fine print and u will see very few if any can qualify for it
dixiegrrrrl
(60,010 posts)But the company honchos evidently do not read the papers re: Martin Shirkeli or however his name is spelled.
KittyWampus
(55,894 posts)and be sure to learn how to use them properly.
All EpiPen does is deliver Epinephrine using its own type of auto-injector.
There are other companies selling ephinephrine using their own auto-injectors. Doctors just need to be told to prescribe them.
elleng
(130,761 posts)have decent relations with their doctors. If that were the case, things would be better, imo.
KittyWampus
(55,894 posts)everyone seems to think EpiPen is the only alternative and that they have a monopoly on epiphendrine.
elleng
(130,761 posts)Anyone who uses/used SUDAPHED, and has any idea about what it contains, should know that mylan/epipen doesn't have a monopoly on ephedrine! (tho not immediately interchangeable.)
Avalux
(35,015 posts)The medication itself has been around forever and can be given by syringe. The Epi-pen is easy enough for self-administration in an emergency....did you watch the Olympics? Mylan's advertisement for the Epi-pen was shown dozens and dozens of times, featuring a young girl at a party who accidentally eats a brownie with peanut butter. She falls to the ground unconscious - very scary commercial. It effectively increased awareness (through fear) of the seriousness of anaphylactic reactions, which means more people are seeking the Epi-pen, translating to profits for Mylan. An unintended consequence for Mylan is that the demand has put a spotlight on the cost (which is good).
Mylan's tactics are despicable. The technology needs to be shared so generic companies can compete.
ismnotwasm
(41,967 posts)KittyWampus
(55,894 posts)Consumer Reports just did a spread on Adrenaclick as the much cheaper alternative.
The distributor of Adrenaclick is Amedra Pharmaceuticals LLC, Horsham, PA
nykym
(3,063 posts)a private company.
Hugin
(33,059 posts)workinclasszero
(28,270 posts)...till it didn't.
The CEO's pay went from $2,453,456 to $18,931,068 from 2007 to 2015. A 671 percent increase.
I hope Mylan crashes and burns but the vampire CEO will be just fine no doubt!
Avalux
(35,015 posts)First of all, Mylan, an American corporation, was headquartered in WV, then moved to the Netherlands to avoid paying taxes.
Second of all, Mylan's CEO Heather Bresch, SOMEHOW ended up CEO with little-to-no experience and an unearned Master's Degree from WVU obtained while her Daddy was Governor. Her Daddy, Joe Manchin, is not Senator and well....we can all see what's going on here.
I hope Bresch and the company crashes and burns. Despicable group of people.
eppur_se_muova
(36,247 posts)Lebam in LA
(1,344 posts)that for-profit medical care is not in the best interest of the people. One can only hope