EpiPen..... nobody beileves this, do they?

[GarlicGuy]

Their CEO is going in front of Congress to explain the huge price increase for Epipens.

This was copied from a yahoo story:

In her testimony, Bresch says she understands there is considerable concern and skepticism about the pricing. She says some think the company makes $600 off each EpiPen, but that is not true.

She says the company makes about $50 per pen after rebates, fees, materials and other costs are subtracted.

[Zoranon]

The real question that everybody should be asking is why FDA has repeatedly stymied any attempts of other companies to create an alternative to epipen.

[willtron]

The real question that everybody should be asking is why FDA has repeatedly stymied any attempts of other companies to create an alternative to epipen.

http://money.cnn.com/2016/08/30/inve...e-100-dollars/

Hopefully this comes to fruition.

[Azadina]

Their CEO is going in front of Congress to explain the huge price increase for Epipens.

This was copied from a yahoo story:

In her testimony, Bresch says she understands there is considerable concern and skepticism about the pricing. She says some think the company makes $600 off each EpiPen, but that is not true.

She says the company makes about $50 per pen after rebates, fees, materials and other costs are subtracted.

Like her almost 5 times increased salary? Well, is it a wonder there won't be much "profit" left, when she pockets most of it, before being counted as profit for company.

[Kujako]

http://money.cnn.com/2016/08/30/inve...e-100-dollars/

Hopefully this comes to fruition.

Or this one... http://minnesota.cbslocal.com/2016/0...n-alternative/

Bottom line, Epi will be out of the market soon enough due to this nonsense.

[Zoranon]

http://money.cnn.com/2016/08/30/inve...e-100-dollars/

Hopefully this comes to fruition.

Past FDA actions do not fill me with hope.

[Zandalarian Paladin]

As someone who has several life-threatening allergies, I can't fathom how people can survive in the US. I live in Canada, so for me it cost roughly CA 150$/epipen. There is NO WAY in hell that the price in the US is right. At all.

This is a disgusting lie made by someone who wants to cash in. Simple as that.

[Forgettable]

Money > Health

...Right?

[Paula Deen]

She is actually correct. I know he is a meme at this point but Martin when on CBS to talk about it. She is telling the truth. It doesn't make this less scummy, but I understand why they did it. Martin also makes a great point in his commentary, would you rather spend the 300+ for the EpiPen or pay 2,000 for the Ambulance and EpiPen? As much as I hate the guy he makes great points.

[JohnBrown1917]

^Like i'm going to buy any of his bullshit.

[Paula Deen]

^Like i'm going to buy any of his bullshit.

Don't judge a book by its cover.

[Calfredd]

^Like i'm going to buy any of his bullshit.

Why not? It's only $800 a bottle.

[TZucchini]

The real question that everybody should be asking is why FDA has repeatedly stymied any attempts of other companies to create an alternative to epipen.

Well, there must be a reason. Do you know what their explanation is?

Adrenaclick is available. Which is approved by the FDA.

[unbound]

Their CEO is going in front of Congress to explain the huge price increase for Epipens.

This was copied from a yahoo story:

In her testimony, Bresch says she understands there is considerable concern and skepticism about the pricing. She says some think the company makes $600 off each EpiPen, but that is not true.

She says the company makes about $50 per pen after rebates, fees, materials and other costs are subtracted.

So, this is how corporations work. Obviously, I don't have the inside view of their particular costs, but here is how it typically works out.

$600 is the list price for pen. Most people don't pay this, but a few do (bonus for them).

$300 is what they typically charge. This is after rebates and price negotiations with insurance carriers.

$200 is about what they will get at the end of the day after fees, etc.

Now, as for "costs". The costs of the medicine is under $1. The costs of the pen itself is no more than a couple of dollars. Those are the material costs.

So, how do they get down to $50? That is because of "other costs" which are, basically, the money they pay out to their staff, executives, and sales force. The staff may accounts for $10 per pen or so. The rest of the roughly $135 dollars goes to executive salaries and benefits, and sales salaries and benefits (e.g. bonuses). The $50 is on the balance sheet as profit...which is enough to keep their stock price elevated so that the free (or heavily discounted stock) that the executives get as an additional bonus is worth something to them as well.

If you exclude sales and executive compensation, you see that they are easily making more than $150 (probably close to $200) per unit. This is common across most corporations.

[GarlicGuy]

She is actually correct. I know he is a meme at this point but Martin when on CBS to talk about it. She is telling the truth. It doesn't make this less scummy, but I understand why they did it. Martin also makes a great point in his commentary, would you rather spend the 300+ for the EpiPen or pay 2,000 for the Ambulance and EpiPen? As much as I hate the guy he makes great points.

You take a video of an even bigger scam artist to prove a point? Way funny.

[Paula Deen]

You take a video of an even bigger scam artist to prove a point? Way funny.

Watch and listen to what he says.

[GarlicGuy]

Watch and listen to what he says.

There is no way in hell I would believe him, so what's the point? He deserves to burn in hell.

[Paula Deen]

There is no way in hell I would believe him, so what's the point? He deserves to burn in hell.

I mean, he states facts. If you don't believe facts because someone you don't like says them, that is pretty bad.

[JohnBrown1917]

Don't judge a book by its cover.

Sorry, still not buying it.
I don't have the money.

- - - Updated - - -

So, this is how corporations work. Obviously, I don't have the inside view of their particular costs, but here is how it typically works out.

$600 is the list price for pen. Most people don't pay this, but a few do (bonus for them).

$300 is what they typically charge. This is after rebates and price negotiations with insurance carriers.

$200 is about what they will get at the end of the day after fees, etc.

Now, as for "costs". The costs of the medicine is under $1. The costs of the pen itself is no more than a couple of dollars. Those are the material costs.

So, how do they get down to $50? That is because of "other costs" which are, basically, the money they pay out to their staff, executives, and sales force. The staff may accounts for $10 per pen or so. The rest of the roughly $135 dollars goes to executive salaries and benefits, and sales salaries and benefits (e.g. bonuses). The $50 is on the balance sheet as profit...which is enough to keep their stock price elevated so that the free (or heavily discounted stock) that the executives get as an additional bonus is worth something to them as well.

If you exclude sales and executive compensation, you see that they are easily making more than $150 (probably close to $200) per unit. This is common across most corporations.

And we found the problem.

[A dot Ham]

She is actually correct. I know he is a meme at this point but Martin when on CBS to talk about it. She is telling the truth. It doesn't make this less scummy, but I understand why they did it. Martin also makes a great point in his commentary, would you rather spend the 300+ for the EpiPen or pay 2,000 for the Ambulance and EpiPen? As much as I hate the guy he makes great points.

The real problem though is the government propping up these companies through subsidies, tax breaks, and muscling out the competition, then when they finally have a complete monopoly (thanks to the government) on a given commodity, flipping the switch and then charging outrageous prices for it.

I mean you do have consider the source right? The guy whose business plan consists of buying up companies that produce drugs for rare diseases knowing that people will pay because they have no other alternative.

$13.50 to $750.00 a pill
$1.50 to $30.00 a pill

Not to mention he has an ongoing trial for securities fraud. Listen to the guy talk and it take you 60sec to discover he's an absolute sociopath of the worst kind. Not all sociopaths are serial killers... but they exhibit similar personality traits. This guy is a sociopath plain and simple.

So you can place about as much value on his commentary as you would Charles Manson.

Either you have been operating at a loss for YEARS and you've been cooking the books, or you are currently defrauding the government and the American people and lying under oath when you claim your operating costs to produce a given product are what they are claiming.

Bottom line is these companies are committing fraud. Thanks to Sarbanes-Oxley they can and should go to jail for it.