The EpiPen is known for its medical innovation and lifesaving capabilities; however, as of late, it is being know for its large price tag and unwillingness to investigate malfunctions within their product. EpiPen controls a monopoly on this type of product, meaning they can charge any price and the public is forced to buy it as there are no close substitutes. This does not give EpiPen the right to charge $608 for a two-pack; a price that has increased 500 percent since 2007. This package is not only a burden on families who need the product to ensure that in the case of an allergic reaction their life will be saved, but that product may not even work.
The situation had escalated to the point where the Food and Drug Administration (F.D.A.) had to get involved. They addressed some of the wrongdoings by EpiPen: “our own data show that you received hundreds of complaints that your EpiPen products failed to operate during life-threatening emergencies, including some situations in which patients subsequently died.” EpiPen responded by backing up the safety and efficacy of their product and said, “It’s not unusual to receive product complaints, especially when the product is frequently administered by non-medically trained individuals.” EpiPen is now blaming the malfunctions of their products on the consumers and users. Although EpiPen eventually made a recall on certain products due to this issue, this did not occur until after an F.D.A. inspection of one of the manufacturing facilities.
The choices made by EpiPen were clear attempts to maximize profit at all costs. Which meant burdening families and allowing malfunctioning products to remain on the market, despite the complaints the company received. If EpiPen were to make decisions based on their social responsibility then they would decrease the price of their product to be easily affordable to all consumers and ensure that all products work as expected. These choices were not made and the reason: because EpiPen holds a monopoly. Even though they are acting socially un-responsible consumers are still forced to buy their product. However, their actions did not go without punishment as EpiPen saw a decrease in stock price of almost 25% as of mid August 2017. This is directly related to the scandalous behavior of the company. The F.D.A. stepped in to punish and attempt to resolve some of these issues that EpiPen has created. Which include the recalling certain lots of products as well as reaching a $465 million settlement with the U.S. Department of Justice for overcharging the federal government for the product. Even though EpiPen faced certain punishments, how much control does the government really have over this medical monopoly?
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https://www.statnews.com/2016/07/06/epipen-prices-allergies/ (Picture)