We should be anything but surprised at the sky-high prices we now see for prescription drugs. In the past several weeks, the public’s attention has focused on Mylan and its 400% EpiPen price increase since 2009. Yet EpiPens are not—by a long shot—the only drugs that have sparked recent outrage due to price hikes. Generic epinephrine costs, for example, have risen by more than 200%. And the price of Naloxone, a life-saving drug that can help reverse opioid overdoses, has risen 17-fold in the past two years.
What is shocking, then, is not that an EpiPen 2-Pak now costs as much as $600, but rather that it took Mylan nearly a decade to raise its price this high.
Let’s be clear about the source of the U.S. drug pricing problem.