Mylan increasing coupon to $300

[YouKnowWho]

http://mobile.reuters.com/article/idUSKCN11017J

By Ankur Banerjee
(Reuters) - Mylan NV (MYL.O) said on Thursday it would reduce the out-of-pocket cost of its severe allergy treatment EpiPen through a discount program, a day after Democratic Presidential candidate Hillary Clinton joined lawmakers in criticizing the drug's high price.

The company, which did not lower the drug's list price, said it would reduce the patient cost of EpiPen through the use of a savings card, which will cover up to $300 of EpiPen 2-Pak.

Price of the product, acquired in 2007, has zoomed to $600 from $100 in 2008. For patients previously paying the full list price, the card effectively reduces their out-of-pocket cost exposure by 50 percent, Mylan said.

The company said it is also doubling the eligibility for its patient assistance program, which will eliminate out-of-pocket costs for uninsured and under-insured patients and families.

Clinton on Wednesday called on Mylan to voluntarily drop the price of EpiPen.

Clinton's comments came after a bipartisan group of lawmakers called for investigations into the price increase of EpiPens, which are preloaded injections of epinephrine (adrenaline) that people use if they are having a dangerous allergic reaction that could result in death, if untreated.

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On Wednesday, Republican Senator Susan Collins and Democratic Senator Claire McCaskill requested that Mylan provide a briefing to explain the price change.

A group of lawmakers said on Wednesday that they had written to the U.S. Food and Drug Administration to ask about its approval process for alternatives to the EpiPen.

The comments from Clinton and lawmakers sent biotech stocks spiraling down on Wednesday, similar to the slump last fall when Clinton had first criticized the high cost of drugs.

Clinton admonished Valeant Pharmaceuticals International Inc (VRX.N) (VRX.TO), which raised the price of a heart drug. In March, she released a campaign ad vowing to target the company.

Clinton also criticized Turing Pharmaceuticals when public ire rose after it decided to raise the price of an antiviral medication commonly used by AIDS patients and pregnant women to $750 from $13.50 a tablet.

Turing was then led by Martin Shkreli, who became the poster child for the issue of soaring prices for prescription medications. He later stepped down as CEO of Turing.

Mylan's stock, which had fallen more than 10 percent this week through Wednesday's close, were up 3.6 percent at $44.67 in premarket trading.

[hedgehog]

I guess the $300 discount is some help.  If you know about it to get it.  And many won't. But the remaining $300 is still more than it used to cost. 

[momma2boys]

Chances are, for a LOT of people, if you can't afford $600, you won't be able to affrd $300. Still not a reasonable price.

[becca]

Chances are, for a LOT of people, if you can't afford $600, you won't be able to affrd $300. Still not a reasonable price.

And, it is $300 x 2-3 sets. 

[rebekahc]

Recently when I had to get 2 sets of Epis and had the $100 coupon, the pharmacy said I could only use it toward one set.  Thankfully our rx deductible is only $200 so I didn't have to pay an arm and a leg before the copay kicked in.

[my3guys]

Hmmm. My cvs pharmacy took my coupon for multiple times for both kids.

[YouKnowWho]

Coupon says up to three times but each person needs their own coupon.

[rebekahc]

My CVS wouldn't let me use it twice on the same transaction - I had to get two sets at once both for the same child.  At the time, I thought they were just blowing smoke, but since my copay kicked in on the second set, I didn't push the issue.  CVS charged me my deductible for the first set ($200) then gave me the $100 off and my second set was just the copay, so total I paid was $135 for both sets, but my insurance thinks I've met the deductible.  They should have let me use the coupon on set 2 for $35, but it just wasn't worth arguing.

[spacecanada]

This still doesn't address nor solve the problem of them being so ridiculously expensive in the first place.  Aid programs are great, sure, but are only a cover for a much bigger problem.  Just my two cents.

I hope everyone here will be able to share the rebate, coupon, and resources so others will know how to get cheaper EpiPens. Shouldn't pharmacies be sharing these resources with their patients too? (Or are they out to make as much money as possible off these too?)

Just 

[YouKnowWho]

Publix sent me each child a letter when pens were close to expiration with the Mylan discount card.

I filled my daughter's on Wednesday when discount was only $100, so $180 cost for me.  Thursday they released $300 card  . I still need to get boys meds which will be free but allergist hasn't sent over inhaler script after two requests.  Sigh.

[lakeswimr]

Still price gouging.