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Actionable news in MYL: Mylan Inc.,

Dear EpiPen Customers . . .

To whom it may concern:

As the CEO of Mylan, maker of the world-famous EpiPen, it gives me great pleasure to address you, via email from an undisclosed location, concerning the pricing of our product.

As you may know, my father is a U.S. senator from West Virginia, where the state motto is “Montani semper liberi.” It means “mountaineers are always free.” Indeed, they are. But pharmaceuticals aren’t—especially EpiPen.

Sadly, thanks to a controversy fanned by the media, even my father, better known as Sen. Joe Manchin, issued a statement this week decrying the “skyrocketing prices of prescription drugs.” He didn’t mention EpiPen for good reason. He’s my dad.

Our health-care system is confusing. The public is understandably confused about why we have raised the price of a two-pack of EpiPens by 500% over the past decade—from $100 in 2007 to $600 today.

That sounds like a lot, especially since the active ingredient, epinephrine, has been around since 1901 and is cheap to make. Yes, we recently improved our injector, but guess what? The old injector worked fine. EpiPen, using the old injector, saved thousands of lives, especially children who are allergic to peanuts or bee stings.

The drug can be bought for 10 cents in many countries; the old injector design our would-be competitors are free to copy to their heart’s content. Our prices would surely be lower, then, if we actually had some competitors. Don’t blame me. The Food and Drug Administration has delayed the entry of one competitor and...