CVS Is Fighting Against Pharmaceutical Monopolies | The Odyssey Online
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Health and Wellness

CVS Is Fighting Against Pharmaceutical Monopolies

There's nothing better than a good old fashioned EpiPen, or is there?

Alyson Trager
Jan 17, 2017
University of Maryland College Park
32
CVS Is Fighting Against Pharmaceutical Monopolies
Business In Savannah

This week CVS announced that they will be selling a generic form of the EpiPen. This comes after much criticism of Mylan for hiking the price of their EpiPen from about $225 for one pen in 2015 to $649.99 for a two-pack in 2016.

Since the EpiPen is a much needed life-saving device for many Americans with allergies, people were outraged with the sudden change in price. The CEO of Mylan, Heather Bresch, even underwent congressional hearings. And you know when Congress actually cares, you’re in deep trouble.

According to MarketWatch.com, CVS will be selling an “authorized generic for Adrenaclick.” It will cost $109.99 for a two-pack of the new product. That’s about one-sixth the price of what Mylan is selling the EpiPen for. CVS will now be competing with a large pharmaceutical company, lessening Mylan’s monopoly.

But this news doesn’t necessarily help everyone. Some users will not be able to jump from one brand to the next. Not all auto-injectors are considered “therapeutically equivalent,” according to the Food and Drug Administration. Even though it is the same ingredients and dosage, the regulatory agency doesn’t allow patients to swap one for another, even if prescribed.

This topic brings up the much-needed discussion about pharmaceutical companies taking advantage of their position in patients’ lives to make a huge profit. Because of the intellectual property rights mentioned earlier, pharmaceutical companies can essentially monopolize on life-saving drugs. Without competitors, these companies can raise prices to no end. People will either pay for it, or go without, neither being a comfortable way to live. It is unfair and selfish for these companies to exploit a patient's needs. Whether CVS did this to fight back against tyrannous pharmacists, or in a move to compete with the big dogs, it really doesn't matter. What does matter is that the company is taking a stand against the unjust benefits these CEOs are getting right now. We can only hope in the future more companies find ways to be competitive in the pharmaceutical market.
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