Source:
http://www.businessinsider.com/epipen-cost-increase-healthcare-insurance-2016-8

This is a result of extreme capitalism.  When an inelastic good–notably life saving drugs–is monopolized, the supplier is free to raise prices for their own benefit.

Epinephrine, also known as adrenaline, is a naturally occurring hormone often associated with the flight or fight response. Synthesized epinephrine is often used by individuals to prevent death from anaphylactic shock in the event of a life threatening allergic reaction. However, it must be administered intramuscularly with a syringe. The EpiPen is an automated mechanical device that delivers the correct dose of epinephrine quickly and easily. Whether $100 or $600, it is a must-have for individuals suffering from severe allergies.

This article illustrates the skyrocketing price for EpiPens since the device was acquired by Mylan in 2007. Surely Mylan is doing some good by providing two dose packages and by raising awareness, but does it warrant a 500% increase in price ? As shown by the graph, the original price was less than $100 at the time the device was acquired, with a slight increases until 2010. This was when the FDA allowed for two devices per package, that is an extra dose if necessary. In 2013, when a law was signed to encourage the availability of epinephrine in schools. This year, the price is over $600 for the same 2 dose package introduced in 2010. Whether or not this net increase is ethical, is still under debate.

At least in my opinion, the increases in price are the result of extreme capitalism. Surely the two dose package would warrant at most a doubling in price, but no more! We have doctors and engineers all over the world who can reduce the cost of auto injectors, but patent laws forbid that. For now, everyone must pay the costs until those patents expire.