Recently Mylan Pharmaceuticals has come under fire as the most recent pharma company to be accused of wildly over pricing their products. The cost of their EpiPen went from around $100 dollars to approaching $600 in a few short years.
Mylan’s marketing of the EpiPen was equally aggressive and positioned their product in such a way that it was irresponsible for anyone not to have one nearby.
Now that their pricing has come under scrutiny their CEO has basically said its not their fault, and that the pricing of all pharma products is out of control and they were only following the industry trend.
Making people believe that they have to have something and then capitalizing on that fear is persuasive marketing 101, but in my opinion they went to far, and need to own up to the fact that they have been taking advantage.