We are sure you've heard by now that Mylan has hiked the prices of her EpiPen up 600%. How is that possible, especially in a capitalistic market. Well we all know that health care is a whole other world. Mylan has a monopoly on the EpiPen market. Prices went from $59 to $600 dollars. We are all for making a profit but at whose expense? Many families can not afford this luxury, not to mention they expire after a year. However these EpiPens are not a luxury, they are life saving devices. Mylan has been called out and we thought change was coming but then the FDA denied the latest EpiPen competition.
"Mylan ($MYL) was already cruising without competition to key product EpiPen. But now, wannabe rival Teva Pharmaceutical ($TEVA) has run into a hurdle that could keep the treatment flying high through next year.
On Monday, the Israeli generics giant disclosed that it had received an FDA rejection for its generic version--and in that rejection, regulators flagged "certain major deficiencies." With serious problems to fix, the company expects its copycat to be "significantly delayed"--meaning it's not anticipating a launch before 2017. With its nemeses sidelined, Bernstein analyst Ronny Gal has predicted EpiPen could capture about 95% of the blockbuster epinephrine injection market."