Benefits Of Pharmaceutical Companies Monopolies Over The Industry Of Epinephrine

1507 Words Dec 2nd, 2016 7 Pages
According to the New York Times, the cost of EpiPens has risen from $57 in 2007 to over $600 for a pack of two in 2016. EpiPens are vital to the safety of those who have life-threatening allergies to things such as bees or peanuts and it is recommended that their EpiPens be replaced every year. People with a need for EpiPens must find a way to pay the $600 for them when they expire each year. The dramatic increase in price is due to the monopoly that EpiPen has over the industry of epinephrine. After a company creates a unique drug, it is issued a patent that prevents any other sellers from entering the industry, giving the single company the power to charge whatever price that they see fit. Patents give pharmaceutical companies monopolies over their industries. Some firms use their monopolies to make a profit while others use their financial security to innovate and research new drugs.

General Info (Fabrizio)
Businesses that hold monopolies over medical products, such as EpiPen, have complete power over the increase and decrease of the price of the products. This is due to the fact that they are the only providers of the product due to a patent obtained to protect their product from other competing businesses. The power that companies hold have enabled them to set monstrous prices for their products; therefore, they are affecting millions who cannot necessarily afford to buy an everyday product. For example, the producers of EpiPen have been continuously increasing…

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