If you were enraged by Mylan’s controversial business choice to hike the price of the EpiPen up 400% to $600, you’re sure to appreciate this recent news. Reportedly, the same pharmaceutical hero that offered a $1 version of Daraprim, the AIDS medication that Martin Shrkeli (aka “Pharma Bro”) marked up by 5,000%, is offering an affordable EpiPen solution.
Mark Baum, the CEO of Imprimis Pharmaceuticals, is developing a customizable and compoundable alternative to Mylan’s product. The best part? It’ll cost less than $100.
CNN Money reports that the CEO is embarrassed by Mylan’s decision to jack up the price of the important medical safeguard, especially since the main ingredient, epinephrine, costs only a few dollars to produce without the auto-injector.
Says Baum:
“The cost of epinephrine is literally less than a Big Mac.”
Because an auto injector costs between $3 and $7, Baum is optimistic his company can produce a customizable version of EpiPen and sell it profitably for less than $100. His ultimate aim is to offer a product that doesn’t gouge the public.
“We don’t have the desire to charge the public even $300, for something that costs so little,” said Baum. “That’s not how I want to live my life.”
Fortunately, as GoodNewsNetwork points out, Baum isn’t the only visionary developing a more affordable EpiPen alternative. Dr. Douglas McMahon from the Allergy and Asthma Center of Eagan, Minnesota, is working on his own EpiPen which is presently being crowdfunded on IndieGoGo. He hopes to raise $200,000 to finalize testing of the product and gain it FDA approval. Dr. McMahon’s intention is to make a smaller, easier, and more affordable product for patients who need to keep an EpiPen on hand.
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