Hillary Clinton blasts 'outrageous' explosion in EpiPen pricing

Hillary Clinton released a statement Wednesday calling the skyrocketing price of the EpiPen "the latest troubling example of a company taking advantage of its consumers."

EpiPen auto-injectors are life-saving devices for people who have severe allergies that could lead to anaphylactic shock. While the drug contained in EpiPens is cheap, the device itself, which is designed to be user-friendly and immediately dispense the correct dosage of the drug, is exorbitantly expensive.

"Over the last several years, Mylan Pharmaceuticals has increased the price of EpiPens by more than 400%," Clinton noted in the statement. "They're now charging up to $600 for a two-EpiPen set that must be replaced every 12-18 months. This both increases out-of-pocket costs for families and first responders, and contributes to higher premiums for all Americans and their employers."

The statement called the price hikes "outrageous."

"I believe that our pharmaceutical and biotech industries can be an incredible source of American innovation, giving us revolutionary treatments for debilitating diseases," Clinton said. "But it's wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them."

Clinton called on Mylan to "immediately reduce the price of EpiPens" and noted her plan to require pharmaceutical manufacturers to "prove that any additional costs are linked to additional patient benefits and better value." Clinton said there was "no apparent justification" for the high price of EpiPens.

Price increases have helped transform the EpiPen into a billion-dollar business despite it being a decades-old product. A lack of competition has allowed the rapid increase in price - patients simply don't have many other options.