Let’s talk for a minute about all of the stories you’ve been hearing and reading about the EpiPen scandal. The company that makes the EpiPen enjoys a virtual monopoly. They are doing what monopolies do, they are taking advantage of the consumer. These monopolies don’t naturally exist. Naturally, there are competitors that enter the marketplace and offer value, making the prices fall for everyone as competition occurs.

It is difficult for competitors to enter this marketplace and I would argue that this is not an accident. I would argue that manufacturers of drugs like EpiPen, and they are not alone, have purchased from the government the favor of these monopolies, making it particularly difficult for competitors to enter the space.

The real culprit is behind the veil and it is the federal government and of the officials and bureaucrats who sell these favors to companies like those that make EpiPen. EpiPen is not alone, but I would encourage you to look through their evil CEO who is very well politically connected. I would encourage you to look beyond her to the real source of the problem which is the federal government. They are selling these favors making it very difficult for competitors to enter the marketplace, and enabling this wild profit-seeking.

What you will hear is pharmaceutical companies like this need to be regulated, when it’s the regulators that actually cause this problem. I think the irony is not so obvious for all of you and I wanted to point this out.

Competition does what competition always does in the pharmaceutical industry and healthcare. It is wonderful, beautiful and powerful to see newcomers, upstarts and underdogs enter the marketplace and bring value. They make prices crash and quality soar to the benefit of the consumer.

Thank you for joining me, I’ll see you next time.