Missouri law professor: Consider price controls after Epipen controversy
A Missouri law professor thinks Congress should consider imposing price controls on certain drugs after the EpiPen controversy.
Mylan, the pharmaceutical company that provides the life saving pen which treats allergic reactions, announced it would sell a cheaper $300 version of the device after strong reaction to price increases.
U.S. Senator Claire McCaskill (D – Missouri) joined a colleague to send a letter to the company asking why the cost of EpiPen has risen nearly 500 percent over five years.
Rachel Sachs of the Washington University School of Law in St. Louis thinks price controls are one way to prevent spiraling cost hikes. “Now that would have effects that we would want to know about” said Sachs. “Would companies price more highly to begin with because they know that they can’t increase the prices to the same extent later on? Possibly. But it might be better than the current situation.” [...]fda health care finance pharmaceuticals rachel sachs regulation