Nope. Isn't the FDA that caused the epipen disaster. The original epipen was patented. That patent expired. But exactly like has happened in a lot of the other drug cases that we are currently hearing about, the price was low enough on the epipen that no one wanted to make a generic version because they couldn't make money.
At that point, the company made a couple changes and repatented the 'new' epipen, and jacked the price up. With no generic company ready to make the mechanism or a similar one for a year or two, the original manufacturer was able to rape everyone. The free market got involved, of course, with companies stepping up afterwards, but now the prices are slowly coming back down, which makes it much less interesting for any company who wants to make a profit.
The same thing can happen with ANY drug or critical mechanism that only has one supplier and has a reasonable price, because it takes time to tool up, create the generic version, get it approved, and start selling it. And in that time, the original drug maker can make their money and drop the price again.
People say 'ohhhh FDA's fault', but they'd complain even more if drugs weren't tested before being released into the market. The FDA is underfunded, understaffed, but does the best they can (mostly).