What should be done?

by | Sep 16, 2022 | Economics

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For this week’s discussion board, I want you to look at a couple of articles about the EpiPen: one from 2016 and one from 2021. EpiPens are used by people who have allergies. The price of EpiPen increased by more than 500% between 2008 and 2016. Since that time, a class-action lawsuit was filed against the companies involved producing the drug because of alleged price gouging.
1. What are your thoughts about what happened?
2. Why did the companies do it?
3. Do you think there is a reasonable price hike that would be appropriate?
4. What should be done? How can this issue be avoided in the future?
5. How does this relate to elasticity of demand?
6. What would be a market solution to this issue?

Each sentence must be at least 6 sentences in length.

Copy and Paste Websites on the internet below to watch videos:
https://www.cbsnews.com/news/ex-pharma-ceo-martin-shkreli-weighs-in-on-skyrocketing-epipen-prices/
https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-agrees-pay-345-mln-resolve-epipen-pricing-lawsuit-2021-07-16/

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