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Find news articles on the increase in price of Mylan’s Epipen from 2007 to 2016 and the resulting impact on Mylan’s profits. Answer the following questions about the economics and ethics of this phenomenon.
• Does the demand for Epipen have high or low price elasticity, and why?
• How did certain laws and regulations make it possible for Mylan to increase the price of Epipen (consider both intellectual property laws and FDA regulations)?
• Was it right or wrong for Mylan to increase the price of Epipen, and why?
• What were the results of the price increase, in terms of new competition from other companies producing epinephrine delivery products?
• Do these results (change in quantity produced, change in prices, availability of options) have any bearing on the ethics of Mylan’s price increase?