Open borders with Canada will reduce Medicine cost in USA by 60% |
In the last six months, Mylan raised prices more than 20% on 24 of its products, and more than 100% on seven products, according to Wells Fargo analyst David Maris.
This year, Mylan made "a 542 % increase for ursodiol, a generic medication used to treat gallstones, a 444 percent increase in metoclopramide, used to treat gastroesophageal reflux disease (GERD) and gastroparesis, and a 400% increase in dicyclomine, [treat irritable bowel syndrome]. Mylan also raised the price of tolterodine by 56 percent in 2016," Maris said.
The company increased the price of Epi-Pen, its largest product, by 15 percent. The analyst noted the price increases could come at a cost to patients and impact their reputation to shareholders.
In the past year, Valeant, Turing and other pharmaceutical companies have faced scrutiny over their pricing methodology. But what did the Senate do about it?
If you need a medication, someone will quickly increase the prices by 5000%. Just a thought.