There's More to the EpiPen Price Hike Scandal Than Just Greed
By Ira Stoll, The New York Post
The most expensive school supply our family purchases each year comes from the pharmacy: a new package of EpiPens to have on hand in case of an allergic reaction.
So I’ve been following the flap over pricing the pre-loaded injection devices with more than casual interest.
At first glance, the story fits neatly into the familiar framework of out-of-control greed: Pharmaceutical company CEO gets paid nearly $19 million a year while raising the list price of a two-pack of EpiPens to $600 from $100.
But the more one gets into it, the more the case of the drug company Mylan and its Washington lobbying fits some other story lines.
There’s the one about Washington being a revolving door, where federal officials monetize their government service by going to work afterward in the private sector. And the one about Washington being a vending machine, where companies and their executives put money in by hiring lobbyists or making campaign contributions, and get favors out in the form of legislation, contracts or regulatory decisions that protect their profits.