After obtaining the rights to the EpiPen in 2007, Mylan is now the one and only supplier of this life-saving medical device in the United States. Since then, the price of two syringes has risen over 400%. Needless to say, this extreme spike in cost was not a popular decision. This debacle has triggered political figures, such as Hillary Clinton, and major entities, like the American Medical Association, to assert their opinions against the decisions of Mylan Pharmaceuticals.
EpiPen Price Hurts. Digital image. Matt Davie’s Political Cartoons. Matt Davie, 24 Aug. 2016. Web. 10 Sept. 2016.
Why are people so overwhelmingly against what Mylan has done? As depicted by the 200,000 annual trips to the emergency room and over 200 annual deaths caused by allergen-induced anaphylaxis, allergies have the potential to be deadly. When anaphylaxis occurs, it is imperative that the victim visits emergency room immediately, or uses an EpiPen. Now that it costs roughly $600 for two injections that have a storage time of 18 months, the EpiPen becomes less attainable for those with tighter incomes.
Is it ethical to put such an elevated price on something required for survival? In Corporate Ethics and Corporate Governance, the write states “only people have responsibilities”. It is difficult to condemn the minds of Mylan on the basis that their main responsibility is to generate the maximum amount of profit. By setting a dramatic price while operating under government laws and regulations, they meet their goal. However, it becomes an issue regarding ethics once it becomes a matter of life and death. Mylan is composed of an abundance of people who have the capability to have collective social responsibilities. With that being said, I perceive Mylan’s actions to be unethical because they are essentially giving their customers no other choice but to pay more to live safely. I experience difficulty breathing and hives after unknowingly consuming mushrooms. I know exactly how easy it is to expose yourself to something you are not supposed to. It is shocking to think that if my reactions had been more severe, I could have died due to the lack of a presence of an EpiPen.
According to Freeman’s Stakeholder Theory, success if found when every group of a business is taken into consideration. By setting such towering prices, Mylan is causing customers to question the value of their product and how badly they actually need it. Down the road, consumers may decide to simply deem their product unaffordable and take their chances. The infuriated public’s opinion continually being disregarded could result in the tarnishing of their company image and reputation. This unethical move could result in a decline in the business. Although their strategy is maximizing profit, this may not be the best idea in the long-run.
word count: 443
