Ethics in Business: Mylan Pharmaceuticals

Mylan will never be able to erase the fact that they seriously violated the rights and trust of their customers, who are the single most important stakeholder, especially in an industry that provides products that the person needs to live. Through all my research for this blog, not once did I find a sincere apology from Mylan as a company or their CEO Heather Bresch. Instead they continually denied that their price increase was wrong, and blamed the faulted healthcare system and the cost middlemen create in the process. While the healthcare system is certainly flawed, there is absolutely no reason that Mylan couldn't have taken an apologetic stance in response to criticisms, and admitted that a price of $608 for two EpiPen's is utterly ridiculous. Simply acknowledging their fault and sympathizing with their customers would have at the very least curved the aggressive nature of the criticism they received. Instead, they continually repeated the same facts and used the same r

After information surrounding the exploitation of Mylan's monopoly on EpiPen came to light, the public was understandably outraged. Patients, lawmakers, investors, and even people with no stake in the issue spoke out against Mylan, and used it as an example of corporate, and more specifically big pharmaceutical greed. Writer and management consultant Daniel Kozarich, who specializes in pricing and customer strategy, offered his ethical evaluation of the situation. He used a five-step test from the book, The Strategy and Tactics of Pricing: A Guide to Growing More Profitability , to evaluate if the price was ethical. Mylan passed 3 of the 5 tests, because the price was paid voluntarily, they provided their customers with ample information about the product, and they offered coupons and programs to allow for equal access of the good regardless of financial status. The part that they failed (miserably I might add) stipulates that sellers cannot exploit a buyer's essential needs

3. What is saying about the ethical situation?  How are they explaining their actions, their lack of action, or their reaction?  What do you think about their approach to the issue or problem? You might want to examine interviews, press releases and other materials in answering these questions. xplining their actions, their lack of action, or their reaction?  What do you think about their approach to the issue or problem? You might want to examine interviews, press releases and other materials in answering these questions. Mylan faced immediate and nasty backlash from the public after reports of their EpiPen price gouging surfaced. CEO Heather Bresch went before the House Oversight and Government Reform Committee following the fruition of the scandal and provided some justification for not only the company's actions, but her individual actions as the CEO.  Bresch expressed her frustration with the United States Healthcare system, continually referring to it