If an EpiPen has been a part of your family’s medical history for the past decade, you are entitled to some money.
This is welcome news since the cost of a pair of allergy-reaction fighting EpiPens has jumped from about $100 in 2009 to nearly $700 today. Generic versions are a couple of hundred dollars less. And while most insurance plans cover the EpiPen, not everyone has insurance.
That’s a pretty healthy markup for the companies who spend about $35 on the medicine and the pen device to deliver it.
Mylan, the company that manufactures EpiPens, has agreed to a $264 million settlement to resolve claims it worked with Pfizer and other medical companies to inflate the price of EpiPens.
EpiPen is the brand name for the auto-injector medical device known generically as epinephrine.
But you need to act fast to file a claim for your share of the settlement. The deadline is June 25, 2022.
That medication, which affects the entire body, is used to lessen the response to an allergic reaction. It constricts the blood vessels, thereby increasing blood pressure, and decreasing swelling brought on by the allergy reaction. The airway muscles relax, lungs open, and the allergic reaction is often stopped.
Parents often carry EpiPens for their children with severe food allergies. Adults carry them, too, in case they unknowingly ingest something they are allergic to or get bit by an animal or insect, like a bee, and get a dangerous reaction.
The Reason for the EpiPen Class Action Lawsuit
Mylan was accused in a class action lawsuit of working with Pfizer to artificially raise the price of EpiPen products. Plaintiffs alleged the companies knowingly violated antitrust and racketeering laws by doing so.
In 2009, the price of two EpiPens was approximately $100, and by July 2013, the price jumped to approximately $265 for two EpiPens. Two years later, the price had increased by almost $200, and by May 2016 the price of the pair of EpiPens reached $609. It was…