Mylan Pharmaceuticals Case Study

Today’s business industry is comprised of various businesses, from the small “Ma and Pa” shops to well-known corporations. Each organization or business establishment tends to provide certain commodities or services to the public. For instance, pharmaceuticals are one of the many organizations that produce and distribute medicinal products and renders its services to consumers. In fact, pharmaceuticals play a significant role in the medical field and in societies medical needs. For this reason, one will further elaborate on pharmaceutical and its significance. In addition, one will discuss what it entails to bring a pharmaceutical to market. What is a pharmaceutical? A pharmaceutical is a compound medical drug that is manufactured, prepared, or distributed for medical purposes or needs. These pharmaceutical drugs are manufactured by pharmaceutical companies and distributed and sold in pharmacies (Tidd & Bessant, 2013). As a matter of fact, in today’s business world, many individuals tend to buy shares

For instance, consider the epinephrine autoinjector also known as the EpiPen, utilized for anaphylactic shock. This product was developed by Sheldon Kaplan, yet Mylan Pharmaceuticals obtained the patent on the EpiPen in the U.S (Baker, 2016). Unfortunately, due to the patent rights, Mylan Pharmaceuticals can raise the price of the product to extremely high prices. In fact, since Mylan pharmaceuticals is protected by patent, no one else can generate or sell the product; thus, eliminating competition. In addition, considering that the medical condition will always exist, people will always need and the demand the EpiPen. Therefore, in this case the public is being taken advantage by Mylan pharmaceuticals as they are exploiting the situation and circumstances. For example, the EpiPen cost in the U.S is about 500 dollars with insurance, while only 90 dollars in Canada (Baker,