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from the better-mousetrap-trapped-in-limbo dept.
AlterNet reports
The [EpiPen], which millions of Americans depend on, was invented in the 1970s by engineer Sheldon Kaplan[PDF], who died seven years ago in modest surroundings amid obscurity. But Kaplan's patent made its way into [the] Netherlands-based drug maker Mylan, which, since 2007, has jacked up the price of the spring-loaded injector from $57 a shot to $300.
[...] The high price [...] caught the attention of Dr. Douglas McMahon. The 38-year-old allergy specialist in St. Paul, Minnesota, has been thinking about how to improve on the EpiPen and to do so in a way that's affordable.
[...] McMahon saw that the EpiPen device was not only overpriced for what it does but also was too big to be easily carried in a pocket. For the past couple of years, he has been tinkering with injection-device components in his lab. And the result of his work is AllergyStop [1], an injection prototype that's small enough to fit on a key chain. McMahon claimed his device is as effective as the EpiPen and can be marketed and sold for about $50.
But, even though McMahon's device has been production-ready for the past two months, the steps he must take to get the device approved will cost him about $2 million and it will potentially take him years to go through all the hurdles required by the U.S. Food and Drug Administration for possible approval of his invention.
[1] All content is behind scripts. archive.li will run those for you.
Previously:
EpiPen's Price Increased 400% since 2008
(Score: 4, Insightful) by Arik on Monday September 12 2016, @12:11PM
It's about control, and barriers to entry in particular. The more barriers that can be raised to entry into a market (in this case, for pharmaceuticals and related items) the more protected the incumbents are and the higher the prices they can sell their goods for. This is the purpose the FDA serves, the purpose it was designed for, the purpose it has always served. 'Safety' is just a fig leaf.
If laughter is the best medicine, who are the best doctors?
(Score: 5, Informative) by fadrian on Monday September 12 2016, @01:05PM
Yes, third parties like bond rating agencies that were supposed to watch the ratings of all those AAA mortgage bonds for those banks in the late 2000's. I think that Libertarians have too simple minds - they can't see obvious failure modes.
That is all.
(Score: 0) by Anonymous Coward on Monday September 12 2016, @02:44PM
Yes, third parties like bond rating agencies that were supposed to watch the ratings of all those AAA mortgage bonds for those banks in the late 2000's.
To be clear those bond rating agencies were paid by the banks who offered the bonds. The conflict of interest was so glaring that it is amazing it didn't fall apart far sooner. Arik's simple-minded solution has the exact same conflict of interest.
(Score: 2) by Arik on Monday September 12 2016, @03:45PM
Those bond rating agencies, and the banks, and the bonds themselves were all part of a heavily regulated walled garden. The conflict of interest was, as another poster noted, obvious on its face. Only the state can get away with such a con game and have no fear of arrest.
If laughter is the best medicine, who are the best doctors?