The EpiPen has been much in the news. The product, which provides an immediate dose of adrenalin to address an anaphylactic reaction, has risen in price by 400 percent over the last several years. For Hillary Clinton and left wing sites like Vox, this is an argument against drug companies and the free market. What is needed is more government regulation in the form of price regulation.
But it turns out that the problem is the result of bad regulation. When a company sells a product at excessive prices, the normal reaction in free markets is for a competitor to enter the market, which then reduces the prices. But this has not happened in this market due to the FDA.
Various companies have attempted to market competitors to the EpiPen. One, Teva Pharmaceuticals, had their product rejected by FDA based on claimed deficiencies. But the FDA apparently has not made clear what those deficiencies are. Another, Adamis, was rejected by the FDA on the ground that additional studies were needed, even though the company had already done several studies supporting the product.