Bill would provide tax incentive for retailers who continue to sell EpiPens at the 2009 price of $100 to those without prescription coverage.
Senator O’Toole announced plans to introduce legislation to provide a tax credit incentivizing EpiPen retailers to keep the drug affordable. The bill would allow any retailer who sells an EpiPen at the 2009 price of $100 to qualify for a tax deduction for the difference. Since the purchase by Mylan of EpiPen, the cost has risen to $609 per pair of syringes.
“I am appalled by reports of Mylan’s monopolistic pricing tactics that are forcing retailers and families to pay an astronomical amount of money for one of the only drugs that can save a child’s life during an anaphylactic attack,” Senator O’Toole said. “There is no justification for the manufacturer to raise the price by more than 500 percent in less than 10 years. Especially when the only thing that changed was the name of the company producing the EpiPen. What has happened here under Mylan’s watch is unconscionable. This is not 1987 or the fictitious movie ‘Wall Street,’ greed is not always good.”
— Sen. Kevin O'Toole (@kevinjotoole) August 26, 2016
Senator O’Toole, a longtime advocate for children with life-threatening allergies, was the prime sponsor of a 2015 law requiring all New Jersey schools to maintain a supply of epinephrine that a school nurse or trained designee can administer to any student who is having an anaphylactic reaction. In January 2016, Gov. Christie signed Sen. O’Toole’s bill extending the same requirements to New Jersey youth camps.
“When a person is experiencing a potentially fatal allergic reaction, every second counts,” Senator O’Toole added. “For these individuals, having immediate access to an EpiPen is literally, a matter of life and death. It is my hope that this tax incentive for retailers will allow those who need epinephrine injectors to be able to afford them. No one should ever have to worry about being able to afford lifesaving medicine.”