ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -During the early 2000s, Mylan’s EpiPen had few competitors and dominated the market. According to Sanofi, the lack of competition allowed Mylan to raise prices more than 500% between 2008 and 2016 while offering little innovation to the “swing and jab” device.

Detailed explanation-2: -Viatris Settles EpiPen Antitrust Litigation for $264 Million-The New York Times.

Detailed explanation-3: -“You want to start people off with your product, and getting these products in at schools is a great way.” Mylan also has a virtual monopoly on epinephrine auto-injectors simply because there are almost no other products like it, either branded or generic. Mylan has a patent on the drug-device combo until 2025.

Detailed explanation-4: -The global epinephrine market size was valued at USD 1.60 billion in 2021. The market is projected to grow from USD 1.75 billion in 2022 to USD 3.63 billion by 2029, exhibiting a CAGR of 11.0% during the forecast period.