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Sky-high price hikes for EpiPen, the injected emergency medicine for severe allergic reactions to foods and bug bites, have made its maker the latest target for patients and politicians infuriated by soaring drug prices. The company, Mylan, has a virtual monopoly on epinephrine injectors, potentially life-saving devices used to stop a runaway allergic reaction. Mylan N.V., which has headquarters in Hertfordshire, England, and Pittsburgh, has hiked prices as frequently as three times a year over the past nine years, pushing its list price for a package of two syringes to more than $600. (Johnson, 8/23)

The story of Mylan’s giant EpiPen price increase is, more fundamentally, a story about America's unique drug pricing policies. We are the only developed nation that lets drugmakers set their own prices, maximizing profits the same way sellers of chairs, mugs, shoes, or any other manufactured goods would. In Europe, Canada, and Australia, governments view the market for cures as essentially uncompetitive and set the price as part of a bureaucratic process, similar to how electricity or water are priced in regulated US utility markets. (Kliff, 8/23)

Prescription drugs also cost about twice as much in the United States compared to other advanced nations. In other words, EpiPens are not the only prescription drugs with steep price hikes. For instance, when Turing Pharmaceuticals increased the cost of Daraprim, a drug used by some cancer and AIDS patients, from $13.50 to $750 last year, it sparked outrage. The pharmaceutical company's former CEO was Martin Shkreli, known as "pharma bro." (Howard, 8/23)

Drug company CEO Heather Bresch affectionately describes the humble EpiPen as her “baby,” a once-middling product that she turned into a blockbuster. With aggressive advertising — and even more aggressive price hikes — Bresch has fostered the EpiPen into a bestseller that brings in more than $1 billion a year in revenue for Mylan Pharmaceuticals. But the growing furor over drug pricing threatens to turn Mylan’s biggest asset into a liability. And it has forced Bresch into an unwelcome spotlight, as anxiety over the rising cost of medicine has drug industry critics seeking out the next Martin Shkreli. (Garde, 8/24)

Former head of Turing Pharmaceuticals Martin Shkreli is currently under indictment for securities fraud. He was heavily criticized for his “5,000 percent” price hike of the malaria and HIV medicine, Daraprim. He defended Mylan to CBS News on Tuesday. (Nair, 8/23)

Mylan’s sales from the sale of EpiPens reached $1.2 billion in 2015, according to Bloomberg. The price hike has generated a national uproar in recent days, and nearly 63,000 people have signed a petition demanding that Congress investigate “the oppressive price increases.” The petition notes that many families have been forced to turn to manual syringes as a cheaper alternative to the EpiPens, although that makes it harder and more time consuming to get the right dosage. ... As prices of EpiPens went up, so did the company stock, which tripled from $13.29 in 2007 to a high of $47.59 this year, as well as executives’ salaries. (Pianin, 8/23)

Two other senators, Democrats Mark Warner of Virginia and Richard Blumenthal of Connecticut, also wrote the company about the high prices. Warner said in a letter Tuesday that the issue is personal for him. "As the parent of a child with severe allergies, I am all too familiar with the life-or-death importance of these devices," Warner wrote.Rep. Grace Meng, D-N.Y., on Tuesday asked the House Oversight and Government Reform Committee to hold a hearing on the issue. She is a co-chair of the Congressional Kids Safety Caucus. (Jalonick, 8/23)

U.S. Sen. Amy Klobuchar of Minnesota has asked the Federal Trade Commission (FTC) to investigate whether a drug company violated antitrust laws by steeply increasing the price of a product that treats people suffering from severe allergic reactions. After hearing from constituents, Klobuchar, whose daughter has nut allergies, questioned Mylan pharmaceutical’s decision to push the price of a dual pack of EpiPens from $100 in 2008 to $500-$600 in 2016. (Spencer, 8/23)

Rep. Grace Meng (D-N.Y.) is calling for a full committee hearing on the cost of EpiPens, lifesaving injections for people suffering from a severe allergic reaction. In a letter to the chairman and ranking member of the House Oversight and Government Reform Committee on Monday, Meng expressed her concerns about the dramatic increase in the cost of EpiPens. (Wheeler, 8/23)

Mylan Pharmaceuticals, which has been in the hot seat for hiking the price of its EpiPen anaphylaxis treatment beyond the reach of some patients, ran dozens of ads during NBC’s Olympics coverage to raise awareness of food allergies and push patients to talk to their doctors about treatments. The ad doesn’t mention EpiPens — but since EpiPens are, by far, the dominant anaphylaxis treatment, it’s a safe bet they’d be the first option for many physicians. And the ad drives consumers to an allergy awareness website that links in just a few clicks to the EpiPen site. (Tedeschi, 8/23)