EpiPen Responds to Price Outrage

The price of EpiPens has increased 400 percent over the last decade. Now, outrage this week over the skyrocketing out-of-pocket cost of the life-saving EpiPen has forced the company to change its tune on price.

Drug maker Mylan announced early Thursday it would reduce patient costs through the use of a savings card, which will cover up to $300 of the cost of an EpiPen 2-Pak, Reuters reported.

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The price of the product has risen from $100 in 2008 to $600 in 2016.

Patients previously paying the full amount of the company’s list price would see out-of-pocket costs reduced by 50 percent, Mylan announced.

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

EpiPens have long been the industry standard when it comes to prescription items for those with dangerous allergic reactions that could result in death if not treated.

A bipartisan group of lawmakers called this week for an investigation into the soaring price increase of EpiPens — they wanted an explanation for the change.

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CEO Heather Bresch told CNBC’s “Squawk Box” Thursday morning, “I think that we responded this morning, first and foremost, ensuring that everyone who needs an EpiPen has an EpiPen.”

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