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Congress demands answers for EpiPen price hike

Posted: 9:12 AM, Aug 24, 2016
Updated: 2016-08-24 13:12:46Z

Congress is demanding answers about why EpiPen prices are skyrocketing. The life-saving devices can prevent a potentially fatal anaphylactic shock in people with severe allergies.

Costs however have jumped nearly 500% since 2008. Senators are sending letters to the maker of EpiPen asking for justification for the price hike.

Doctors say technology hasn't changed much and there is no real reason for the price hike. However, a competitor of the EpiPen recently stopped producing its product, giving Mylan-the maker of EpiPens- somewhat of a monopoly.

Mylan has declined to comment on the price hike and instead blames high-deductible health plans that require consumers to pay more out of pocket for many drugs. Mylan does offer a savings card and coupon for the EpiPen on its website. The non-profit "Allergy and Asthma Network" is trying to get the device placed on a preventative medicine list so that health insurers will be forced to cover it.