New York attorney general launches antitrust probe of Mylan's EpiPen contracts
Key Excerpts from Article on Website of CNBC
Posted: September 11th, 2016
New York state's attorney general on Tuesday opened an investigation into the pharmaceuticals giant [Mylan], focused on its contracts with local school systems to buy its lifesaving EpiPens. The skyrocketing price of those auto-injection devices, used to counteract potentially fatal allergic reactions, has drawn intense criticism. The office of Attorney General Eric Schneiderman said it launched its probe after a preliminary review revealed Mylan might have inserted anti-competitive terms into its deals to sell EpiPens. Schneiderman's move came within hours of U.S. Sens. Richard Blumenthal, D-Conn., and Amy Klobuchar, D-Minn., asking the Federal Trade Commission to investigate whether Mylan violated federal antitrust laws. "As the cost of EpiPens skyrocketed, schools seeking relief turned to Mylan's 'EpiPen4Schools' program," Blumenthal's office said. "Some of these schools were required to sign a contract agreeing not to purchase any products from Mylan's competitors for a period of 12 months - conduct that can violate the antitrust laws." Schneiderman's probe also comes on the heels of news that Minnesota's attorney general, Lori Swanson, has asked Mylan to provide documents that would justify the company having raised the retail price of EpiPens more than 400 percent. "No child's life should be put at risk because a parent, school, or health-care provider cannot afford a simple, lifesaving device because of a drug-maker's anti-competitive practices," Schneiderman said.
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