For some people, having an EpiPen on them during a period of an emergency reaction is as crucial to their survival as breathing is to ours. That being said, companies are continuously increasing the prices of their EpiPens without much need to, despite their inelasticity.

The price of an EpiPen has seen continuous increase over the past few years, the cheapest price being $614 for a package of two. That being said, Mylan’s does have a savings program, however, it only decreases the expenses by $100 which helps only those who have a decent insurance plan while the remainder of the population is left in confusion as to how to keep up with the continuous price increase.

For inelastic items like these, which are also extremely necessary to survival, companies shouldn’t be increasing the prices so drastically within such a short amount time, specifically since they “portray themselves as the inventors of life-saving medication,” when in reality, they “often do real damage to their reputation by being greedy and jacking up prices.” (CBC)

By increasing the prices of EpiPens, consumers may struggle paying the hefty fee necessary to replace an expired one. As a result those who need an Epipen for survival may be forced to choose between daily utilities or resources in their lives, such as a newspaper subscription, and purchasing the EpiPen needed in emergency cases, especially since it’s getting harder for people to .

Furthermore, Mylan has refused to comment on the steep price increase which can lead us to speculate that they’re doing it for nothing but profit out of greed. It’s unacceptable that the prices are increasing at such a rapid rate without any valid reason for doing so or an explanation for the annual spike in prices.

Yes, in society, it’s good to make a profit, but in all honestly, is it right to do so with items concerning life and death; We have to be ethical when deciding when and why a price of an item should be increased.

Resources: http://www.marketwatch.com/story/mylans-epipen-price-increases-are-valeant-like-in-size-shkreli-like-in-approach-2016-07-20

http://well.blogs.nytimes.com/2016/08/22/epipen-price-rise-sparks-concern-for-allergy-sufferers

http://www.cbc.ca/news/health/epipen-price-1.3734214