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Bill would force drug makers to justify price hikes

Some lawmakers in Washington DC will try to make it harder for drug manufacturers to raise prices for critically important prescription drugs, like the EpiPen.

The drug maker has come under fire for a 500 percent increase in price for the emergency allergy medication.

The CEO of Mylan, the company that makes the EpiPen, will give lawmakers an explanation at a hearing next week on Capitol Hill.

But in the future, they also want an explanation before the price hikes for the EpiPen, or any prescription drugs, are felt by customers at pharmacies.

The cost of a two-dose pack of EpiPens spiked to $600 last month, which shocked people and families who depend on the protection from emergency allergic reactions.

The price has doubled in two and a half years, even though the epinephrine inside only costs .52 cents.

Experts say the price hike is due to a lack of competition in the marketplace.

But a new, bi-partisan bill that will be introduced in Washington DC Thursday would force drug makers to justify any price hike of more than 10 percent to the Department of Health and Human Services.

That would be required at least a month before the increase.

Lawmakers are also looking at ways to increase competition in the EpiPen market.

But it's so late in the Legislative session that the bill is unlikely to pass.

But lawmakers, including Arizona Senator John McCain, say the discussion will create momentum for legislation in the future.