EpiPen Controversy

I will preface this post by saying that I have not actually kept up with this controversy at all.  I know that the prices of EpiPens went up significantly and that the CEO was brought before a congressional hearing over the matter.

Here is the link to the CEO’s testimony.  What strikes me about this is that she actually apologizes for the high cost, and clarifies that the company makes only a fraction of the cost as a profit.

How dare them make any profit?  After all, their company only developed a reliable, safe method for dealing with severe allergies- something that killed around 1500 people annually.  That’s nothing, right?  They should give it away, after investing all of the time and money into research, development, testing, marketing and patenting this.

You can also watch the video here.  What is interesting about this is the CEO says they will make a generic; they get more of the profit (versus the named product), but the price will cut in half.  Congress Critter Chaffetz complains that the company is going to make a mere $25 extra profit, even though the consumer will pay HALF AS MUCH.  This proves that this entire fiasco was more about CEO pay than it was about any sort of humanitarian effort.

This video is also infuriating.  Congress Critter Watson gets all uppity about the CEO using a company jet.  *GASP*

Finally, this article sums up this entire witch hunt.  Congress Critter Norton asks, “What have you done to earn this 671% [compensation] increase?”

Well, for starters, she runs a company that saves lives every day.  What is it you do, Congress Critter Norton, besides stand in the way?  What do YOU do to earn your pay?

 

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