This article is stupidly wrong.
The EpiPen is crazy fucking expensive because it's a medical device, not a medical drug. Medical devices are regulated by the FDA a whole different way than drugs - there are no generics for devices and the device approval process is entirely different. In order to begin human trials you have to run long-term animal trials and any "substantial" change to the design of the device means that you have to redo all of your trials. So once you've climbed that hill, you can push everyone else down it.
Which is exactly what Mylan banked on:
The truly exasperating part is that Mylan's epipen was developed for the fucking army for use in chemical warfare using public funds. Mylan saw a monopoly opportunity and crushed it. Because capitalism. Which is why your medical care should not be subject to the whims of capitalists.
The build cost of an EpiPen is probably under $5. The epinephrine it delivers is less than $1 wholesale. The rest of the cost is (A) profit (B) regulatory overhead to deal with the massive testing, reassurance, tracking and QAQC associated with an FDA-approved medical injection device. So a company could rise up and crush the shit out of (A), but they'd never get the funding to deal with (B) unless they promised not to.
Which is why your medical care should not be subject to the whim of capitalists.