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Charles Glass 2016-08-29
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Heather Bresch, chief executive officer of Mylan.

Facing public and political wrath for steep price hikes on life-saving EpiPens, the devices manufacturer, Mylan, announced Monday that it will offer a cheap generic.

Since Mylan bought EpiPens in 2007, the company has increased the price from around $50 for a single pen to a little more than $600 for a two pack—a more than 400 percent increase in costs.

That s half of the current list price for a two pack, but still triple the 2007 cost of the devices.

EpiPens—auto-injectors that deliver a dose of epinephrine to reverse deadly allergic reactions, namely anaphylaxis shock—cost just a few dollars to make and have not changed considerably since Mylan acquired them.

The company's chief executive, Heather Bresch, saw her salary increase by more than 600 percent, topping $18 million last year.

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0
Thomas Gibson 2016-10-03
img

Mylan CEO Heather Bresch testifying with graphs that turned out to be bullshit Photo by Alex Wong/Getty Images

Two weeks ago, Mylan CEO Heather Bresch got up in front of Congress and lied about how much profit the pharmaceutical company makes on the EpiPen.

Republican Jason Chaffetz of Utah, and Democrat Elijah Cummings of Maryland have sent Bresch a letter asking her to explain why she told the Congressional committee things that turned out not to be true.

And to make matters worse, Bresch never mentioned that they were subtracting these taxes from their equation, leading Congress to believe that their obfuscation was deliberate and calculated.

The letter from Chaffetz and Cummings points out that the only time taxes were mentioned was when they talked about how the company had recently moved its headquarters overseas—a move commonly called an inversion where companies dodge US corporate taxes by playing shady games to establish their operations in another country, even when that company is still effectively based in the US.

During your testimony, you frequently referred to a graphic, titled EpiPen Auto-Injector Estimated Profitability, which identified Rebates & Allowances, Cost of Goods Sold, and Direct EpiPen Auto-Injector Costs as factors that lowered the profitability of the EpiPen.

collect
0
Tom Snipes 2016-09-02
img

If you ve got a severe allergy to something, chances are high you ve got to carry around an EpiPen with you.

These are devices that inject precise doses of adrenalin, stopping the effects of anaphylaxis in their tracks.

At $100, they were already damn expensive.

But then the manufacturer, Mylan, raised the prices to $600.

Naturally, this has been controversial, and many have compared its CEO, Heather Bresch, to the odious pharma-bro Martin Shkreli.

Now, this saga is being parodied in a free, browser-based game called what else?

collect
0
Bessie Scavotto 2017-05-02
img

p Last year, furor over the skyrocketing price of Mylan’s life-saving EpiPens hit a fever pitch.

Lawmakers seethed, parents broke into tears at pharmacy counters, regulators opened investigations, competitors raced to come up with cheaper alternatives, and Mylan’s stock tumbled 29 percent.

Nevertheless, Mylan chairman, Robert Coury received compensation of $97.6 million in 2016.

And that doesn’t include an additional $66.3 million in other retirement benefits and payments that Coury received last year as part of a transition from executive chairman to a “non-employee chairman role.” Coury will continue to receive a $1.8 million per year “cash retainer” as part of a deal made with Mylan last year.

The payments were disclosed Monday in a US Securities and Exchange Commission filing.

In a statement, the company justified the payments, saying:

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0
Keith Maldonado 2017-05-31
img

p A group of disgruntled Mylan investors launched a campaign late Tuesday to block the re-election of six directors over their exorbitant—and increasing—compensation.

In a letter sent to fellow shareholders, the group lambasted hefty bonuses and salary increases that came as the company faced backlash for the skyrocketing price of its life-saving EpiPen devices.

Such outrage is likely to continue given that a new government report released today suggests that Mylan overcharged taxpayers $1.27 billion dollars for EpiPens over 10 years.

The ongoing EpiPen pricing scandal has caused Mylan "significant reputational and financial harm," the investors complained.

Yet directors continued to be rewarded.

The investors were particularly critical of Chairman Robert Coury, who received more than $160 million in compensation in 2016 and will receive a $1.8 million per year “cash retainer” as part of a deal made with Mylan last year.

collect
0
Anthony Breedlove 2016-09-01
img

Things aren't looking so hot for Mylan CEO Heather Bresch these days.

The pharmaceutical industry figure is embroiled in controversy after her company's EpiPen product a vital resource for treating violent allergic reactions has risen in price from less than $100 in 2007 to more than $600 in 2016.That price gouge came for seemingly no reason, but it did significantly raise Bresch's salary, so people are naturally unhappy about it.

It's the Martin Shkreli situation all over again, but with no Wu-Tang Clan involvement and fewer Harambe jokes.If you want to empathize with Bresch in these trying times, the fine folks at GOP Arcade have released a free, browser-based parody video game called "EpiPen Tycoon."

Here's how the game works:  View As:

collect
0
David Shiner 2016-10-08
img

Heather Bresch, chief executive officer of Mylan.

In a settlement announced Friday, Mylan, Inc., the maker of EpiPens, will shell out $465 million to the Department of Justice and other federal agencies to brush aside any questions about its Medicaid rebates.

As Ars reported last week, the Centers for Medicare and Medicaid Services CMS announced that, by misclassifying EpiPens for years, Mylan has been stiffing federal and state governments out of millions of dollars worth of rebates.

In the meantime, Mylan hiked the price of the life-saving devices on 15 separate occasions, reaching an increase of more than 500 percent.

An EpiPen two-pack now goes for more than $600, while a nearly identical single pen was around just $50 in 2007.

The steep rise in price has drawn outrage and scorn from the public and lawmakers.

collect
0
Jeanette Perea 2017-01-11
img

President-elect Donald Trump went after drug makers and sent biotech stocks plummeting after calling the drug industry disastrous during his first press conference since the election.

We have to create new bidding procedures for the drug industry, because they re getting away with murder, pharma, Trump said.

Pharma has a lot of lobbies, a lot of lobbyists, a lot of power.

The pledge to overhaul Big Pharma isn t exactly a new one.

During his campaign, Trump promised to crack down on high drug prices and endorsed the idea of having Medicare negotiate drug pricing—a position that has in the past garnered Democratic support and Republican opposition.

After Trump s remarks, the Nasdaq Biotechnology Index fell by more than 3 percent.

collect
0
Paul Mize 2016-08-25
img

With rage surging over claims of price gouging, EpiPen manufacturer Mylan took a page from Turing s playbook today.

CEO Heather Bresch told CNBC that the company is taking immediate action to make the life-saving auto-injectors available to any patients that need one.

The company will expand discounts and eligibility of its customer assistance program.

However, Mylan gave no sign that it will lower the EpiPen s list price, which the company has hiked up more than 400 percent in recent years.

Though an EpiPen only costs a few dollars to make and can reverse deadly allergic reactions, they now can cost more than $600.

Bresch, seen as the mastermind of the price hike and currently one of the highest paid executives in the industry, tried instead to shift the conversation to problems in the American healthcare system.

collect
0
Steven Jones 2017-04-24
img

Pharmaceutical company Mylan sued West Virginia in 2015 to keep its EpiPens on the state’s “preferred drug list,” which, if successful, would mean that the state’s Medicaid programs would have to automatically pay for the pricey epinephrine auto-injectors.

The bold and unusual move by Mylan—which ultimately failed—is yet another example of the aggressive marketing and legal tactics the company used to boost profits from EpiPens, which halt life-threatening allergic reactions.

Since Mylan acquired rights to EpiPen in 2007, the company raised its price by more than 400 percent.

Mylan also allegedly made illegal deals with schools to undercut competitors and allegedly scammed federal and state regulators out of millions in rebates by knowingly misclassifying the device.

The company’s CEO, Heather Bresch, is one of the highest-paid CEOs in the industry, earning nearly $19 million annually.

But before public rage swelled, it seems states were quietly battling with the pharmaceutical giant.

collect
0
Bart King 2017-06-07
img

When Mylan’s CEO, Heather Bresch, appeared before lawmakers last September to explain the skyscraping price of life-saving EpiPens, she touted coupons that would cut out-of-pocket costs for customers rather than plans to lower prices.

Executives for Turing Pharmaceuticals, Valeant, Marathon, Kaléo, and many others used the same strategy amid price-gouging claims.

They recommend a hard pass—and a growing number is working on legislation to help you do it.

After an initial approval last week, a California bill heading to the Senate aims to prohibit drug companies from offering coupons for brand-name drugs if a cheap generic is available, the Los Angeles Times reports.

Similar legislation is pending in New Jersey and passed some five years ago in Massachusetts.

“A lot of people won’t like that,” California Assemblyman Jim Wood (D-Healdsburg) acknowledged to the Times.

collect
0
Mark Maynard 2016-08-24
img

A two-dose package cost around $94 nine years ago.

The average cost was more than six times that in May, according to the Elsevier Clinical Solutions' Gold Standard Drug Database.Sen.

Charles Grassley, R-Iowa, wrote Mylan, the company that manufactures the devices, and asked for more information on why the prices have increased.

He cited the cost to parents whose children need them and also to schools that keep the EpiPens on hand.

In this Friday, July 8, 2016 photo, a pharmacist holds a package of EpiPens, an epinephrine autoinjector for the treatment of allergic reactions, in Sacramento, Calif. Price hikes for the emergency medicine have made its maker, Mylan, the latest target for patients and politicians infuriated by soaring drug prices.

"The substantial price increase could limit access to a much-needed medication," Grassley wrote to Mylan Chief Executive Heather Bresch in an Aug. 22 letter.

collect
0
Issac Pierce 2016-09-29
img

WASHINGTON, DC - SEPTEMBER 21: Mylan Inc. CEO Heather Bresch holds up a 2-pack of EpiPen as she testifies during a hearing before the House Oversight and Government Reform Committee September 21, 2016 on Capitol Hill in Washington, DC.

The committee held a hearing on "Reviewing the Rising Price of EpiPens."

Photo by Alex Wong/Getty Images

Over the nine or so years that Mylan, Inc. has been selling—and hiking the price—of EpiPens, the drug company has been misclassifying the life-saving device and stiffing Medicaid out of full rebate payments, federal regulators told Ars.

Under the Medicaid Drug Rebate Program, drug manufacturers, such as Mylan, can get their products covered by Medicaid if they agree to offer rebates to the government to offset costs.

With a brand-name drug such as the EpiPen, which currently has no generic versions and has patent protection, Mylan was supposed to classify the drug as a single source, or brand name drug.

collect
0
James Farr 2016-09-06
img

Heather Bresch, chief executive officer of drugmaker Mylan Inc.

On Tuesday, New York Attorney General Eric Schneiderman announced that his office is investigating Mylan Pharmaceuticals Inc, the maker of EpiPen, for potentially using anticompetitive terms in contracts it had with many school systems.

Those terms allowed schools to receive Mylan s EpiPens for free or at discounted prices—as long as they didn t buy any competitors' products for a year.

The terms may have helped Mylan hike the price of the life-saving medical devices without facing stiff competition from similar epinephrine-injecting products, such as Adrenaclick.

Since 2007, the year Mylan acquired EpiPen, the company has raised the price of the pens by more than 400 percent, pushing the list price above $600 and drawing sharp public and political criticism.

No child s life should be put at risk because a parent, school, or healthcare provider cannot afford a simple, life-saving device because of a drug-maker s anti-competitive practices, Schneiderman said in a news release.

collect
0
Charlie Warren 2018-08-17
img

Mylan’s life-saving epinephrine auto-injector EpiPen now has a generic rival, the Food and Drug Administration triumphantly announced.

Teva Pharmaceuticals USA now has FDA approval to market a direct generic competitor of the device, as well as a version for pediatric patients, a generic EpiPen Jr.

Both products are used in emergency situations to auto-inject a dose of epinephrine into a person’s thigh to thwart deadly allergic reactions, namely anaphylactic shock.

The approval comes years after Mylan outraged patients and lawmakers by ruthlessly hiking the price of its product by more than 400 percent.

Mylan purchased the rights to EpiPen in 2007 and gradually raised the list price from about $50 per auto-injector to slightly over $600 for a two-pack.

In step, Mylan CEO Heather Bresch saw her salary soar by millions, reaching nearly $19 million in 2015—a point lawmakers hammered her for during a House Oversight committee hearing in September of 2016.

collect
0
Jackie Brown 2017-06-29
img

A whopping 83 percent of Mylan shareholders voted down the company’s astronomical executive compensation packages.

But a majority of shareholders still supports most of the company’s beleaguered directors, according to fresh filings with the US Securities and Exchange Commission.

The vote was closely watched after a group of shareholders, disgruntled by the EpiPen pricing scandal and executive pay, began campaigning to reject executive pay plans and oust the board—something that requires a two-thirds majority under Mylan’s governance rules.

However, most of the board of directors managed to garner majority support for their positions on the board.

Only Wendy Cameron, the compensation chair, had less than a majority of support: only about 44 percent of the nearly 400 million votes favored her maintaining the position.

CEO Heather Bresch, who has become the public face of the company after appearing for media interviews and defending EpiPen pricing before Congress, was well supported: about 72 percent of the votes were in her favor.

collect
0
Charles Glass 2016-08-29
img

Heather Bresch, chief executive officer of Mylan.

Facing public and political wrath for steep price hikes on life-saving EpiPens, the devices manufacturer, Mylan, announced Monday that it will offer a cheap generic.

Since Mylan bought EpiPens in 2007, the company has increased the price from around $50 for a single pen to a little more than $600 for a two pack—a more than 400 percent increase in costs.

That s half of the current list price for a two pack, but still triple the 2007 cost of the devices.

EpiPens—auto-injectors that deliver a dose of epinephrine to reverse deadly allergic reactions, namely anaphylaxis shock—cost just a few dollars to make and have not changed considerably since Mylan acquired them.

The company's chief executive, Heather Bresch, saw her salary increase by more than 600 percent, topping $18 million last year.

Tom Snipes 2016-09-02
img

If you ve got a severe allergy to something, chances are high you ve got to carry around an EpiPen with you.

These are devices that inject precise doses of adrenalin, stopping the effects of anaphylaxis in their tracks.

At $100, they were already damn expensive.

But then the manufacturer, Mylan, raised the prices to $600.

Naturally, this has been controversial, and many have compared its CEO, Heather Bresch, to the odious pharma-bro Martin Shkreli.

Now, this saga is being parodied in a free, browser-based game called what else?

Keith Maldonado 2017-05-31
img

p A group of disgruntled Mylan investors launched a campaign late Tuesday to block the re-election of six directors over their exorbitant—and increasing—compensation.

In a letter sent to fellow shareholders, the group lambasted hefty bonuses and salary increases that came as the company faced backlash for the skyrocketing price of its life-saving EpiPen devices.

Such outrage is likely to continue given that a new government report released today suggests that Mylan overcharged taxpayers $1.27 billion dollars for EpiPens over 10 years.

The ongoing EpiPen pricing scandal has caused Mylan "significant reputational and financial harm," the investors complained.

Yet directors continued to be rewarded.

The investors were particularly critical of Chairman Robert Coury, who received more than $160 million in compensation in 2016 and will receive a $1.8 million per year “cash retainer” as part of a deal made with Mylan last year.

David Shiner 2016-10-08
img

Heather Bresch, chief executive officer of Mylan.

In a settlement announced Friday, Mylan, Inc., the maker of EpiPens, will shell out $465 million to the Department of Justice and other federal agencies to brush aside any questions about its Medicaid rebates.

As Ars reported last week, the Centers for Medicare and Medicaid Services CMS announced that, by misclassifying EpiPens for years, Mylan has been stiffing federal and state governments out of millions of dollars worth of rebates.

In the meantime, Mylan hiked the price of the life-saving devices on 15 separate occasions, reaching an increase of more than 500 percent.

An EpiPen two-pack now goes for more than $600, while a nearly identical single pen was around just $50 in 2007.

The steep rise in price has drawn outrage and scorn from the public and lawmakers.

Paul Mize 2016-08-25
img

With rage surging over claims of price gouging, EpiPen manufacturer Mylan took a page from Turing s playbook today.

CEO Heather Bresch told CNBC that the company is taking immediate action to make the life-saving auto-injectors available to any patients that need one.

The company will expand discounts and eligibility of its customer assistance program.

However, Mylan gave no sign that it will lower the EpiPen s list price, which the company has hiked up more than 400 percent in recent years.

Though an EpiPen only costs a few dollars to make and can reverse deadly allergic reactions, they now can cost more than $600.

Bresch, seen as the mastermind of the price hike and currently one of the highest paid executives in the industry, tried instead to shift the conversation to problems in the American healthcare system.

Bart King 2017-06-07
img

When Mylan’s CEO, Heather Bresch, appeared before lawmakers last September to explain the skyscraping price of life-saving EpiPens, she touted coupons that would cut out-of-pocket costs for customers rather than plans to lower prices.

Executives for Turing Pharmaceuticals, Valeant, Marathon, Kaléo, and many others used the same strategy amid price-gouging claims.

They recommend a hard pass—and a growing number is working on legislation to help you do it.

After an initial approval last week, a California bill heading to the Senate aims to prohibit drug companies from offering coupons for brand-name drugs if a cheap generic is available, the Los Angeles Times reports.

Similar legislation is pending in New Jersey and passed some five years ago in Massachusetts.

“A lot of people won’t like that,” California Assemblyman Jim Wood (D-Healdsburg) acknowledged to the Times.

Issac Pierce 2016-09-29
img

WASHINGTON, DC - SEPTEMBER 21: Mylan Inc. CEO Heather Bresch holds up a 2-pack of EpiPen as she testifies during a hearing before the House Oversight and Government Reform Committee September 21, 2016 on Capitol Hill in Washington, DC.

The committee held a hearing on "Reviewing the Rising Price of EpiPens."

Photo by Alex Wong/Getty Images

Over the nine or so years that Mylan, Inc. has been selling—and hiking the price—of EpiPens, the drug company has been misclassifying the life-saving device and stiffing Medicaid out of full rebate payments, federal regulators told Ars.

Under the Medicaid Drug Rebate Program, drug manufacturers, such as Mylan, can get their products covered by Medicaid if they agree to offer rebates to the government to offset costs.

With a brand-name drug such as the EpiPen, which currently has no generic versions and has patent protection, Mylan was supposed to classify the drug as a single source, or brand name drug.

Charlie Warren 2018-08-17
img

Mylan’s life-saving epinephrine auto-injector EpiPen now has a generic rival, the Food and Drug Administration triumphantly announced.

Teva Pharmaceuticals USA now has FDA approval to market a direct generic competitor of the device, as well as a version for pediatric patients, a generic EpiPen Jr.

Both products are used in emergency situations to auto-inject a dose of epinephrine into a person’s thigh to thwart deadly allergic reactions, namely anaphylactic shock.

The approval comes years after Mylan outraged patients and lawmakers by ruthlessly hiking the price of its product by more than 400 percent.

Mylan purchased the rights to EpiPen in 2007 and gradually raised the list price from about $50 per auto-injector to slightly over $600 for a two-pack.

In step, Mylan CEO Heather Bresch saw her salary soar by millions, reaching nearly $19 million in 2015—a point lawmakers hammered her for during a House Oversight committee hearing in September of 2016.

Thomas Gibson 2016-10-03
img

Mylan CEO Heather Bresch testifying with graphs that turned out to be bullshit Photo by Alex Wong/Getty Images

Two weeks ago, Mylan CEO Heather Bresch got up in front of Congress and lied about how much profit the pharmaceutical company makes on the EpiPen.

Republican Jason Chaffetz of Utah, and Democrat Elijah Cummings of Maryland have sent Bresch a letter asking her to explain why she told the Congressional committee things that turned out not to be true.

And to make matters worse, Bresch never mentioned that they were subtracting these taxes from their equation, leading Congress to believe that their obfuscation was deliberate and calculated.

The letter from Chaffetz and Cummings points out that the only time taxes were mentioned was when they talked about how the company had recently moved its headquarters overseas—a move commonly called an inversion where companies dodge US corporate taxes by playing shady games to establish their operations in another country, even when that company is still effectively based in the US.

During your testimony, you frequently referred to a graphic, titled EpiPen Auto-Injector Estimated Profitability, which identified Rebates & Allowances, Cost of Goods Sold, and Direct EpiPen Auto-Injector Costs as factors that lowered the profitability of the EpiPen.

Bessie Scavotto 2017-05-02
img

p Last year, furor over the skyrocketing price of Mylan’s life-saving EpiPens hit a fever pitch.

Lawmakers seethed, parents broke into tears at pharmacy counters, regulators opened investigations, competitors raced to come up with cheaper alternatives, and Mylan’s stock tumbled 29 percent.

Nevertheless, Mylan chairman, Robert Coury received compensation of $97.6 million in 2016.

And that doesn’t include an additional $66.3 million in other retirement benefits and payments that Coury received last year as part of a transition from executive chairman to a “non-employee chairman role.” Coury will continue to receive a $1.8 million per year “cash retainer” as part of a deal made with Mylan last year.

The payments were disclosed Monday in a US Securities and Exchange Commission filing.

In a statement, the company justified the payments, saying:

Anthony Breedlove 2016-09-01
img

Things aren't looking so hot for Mylan CEO Heather Bresch these days.

The pharmaceutical industry figure is embroiled in controversy after her company's EpiPen product a vital resource for treating violent allergic reactions has risen in price from less than $100 in 2007 to more than $600 in 2016.That price gouge came for seemingly no reason, but it did significantly raise Bresch's salary, so people are naturally unhappy about it.

It's the Martin Shkreli situation all over again, but with no Wu-Tang Clan involvement and fewer Harambe jokes.If you want to empathize with Bresch in these trying times, the fine folks at GOP Arcade have released a free, browser-based parody video game called "EpiPen Tycoon."

Here's how the game works:  View As:

Jeanette Perea 2017-01-11
img

President-elect Donald Trump went after drug makers and sent biotech stocks plummeting after calling the drug industry disastrous during his first press conference since the election.

We have to create new bidding procedures for the drug industry, because they re getting away with murder, pharma, Trump said.

Pharma has a lot of lobbies, a lot of lobbyists, a lot of power.

The pledge to overhaul Big Pharma isn t exactly a new one.

During his campaign, Trump promised to crack down on high drug prices and endorsed the idea of having Medicare negotiate drug pricing—a position that has in the past garnered Democratic support and Republican opposition.

After Trump s remarks, the Nasdaq Biotechnology Index fell by more than 3 percent.

Steven Jones 2017-04-24
img

Pharmaceutical company Mylan sued West Virginia in 2015 to keep its EpiPens on the state’s “preferred drug list,” which, if successful, would mean that the state’s Medicaid programs would have to automatically pay for the pricey epinephrine auto-injectors.

The bold and unusual move by Mylan—which ultimately failed—is yet another example of the aggressive marketing and legal tactics the company used to boost profits from EpiPens, which halt life-threatening allergic reactions.

Since Mylan acquired rights to EpiPen in 2007, the company raised its price by more than 400 percent.

Mylan also allegedly made illegal deals with schools to undercut competitors and allegedly scammed federal and state regulators out of millions in rebates by knowingly misclassifying the device.

The company’s CEO, Heather Bresch, is one of the highest-paid CEOs in the industry, earning nearly $19 million annually.

But before public rage swelled, it seems states were quietly battling with the pharmaceutical giant.

Mark Maynard 2016-08-24
img

A two-dose package cost around $94 nine years ago.

The average cost was more than six times that in May, according to the Elsevier Clinical Solutions' Gold Standard Drug Database.Sen.

Charles Grassley, R-Iowa, wrote Mylan, the company that manufactures the devices, and asked for more information on why the prices have increased.

He cited the cost to parents whose children need them and also to schools that keep the EpiPens on hand.

In this Friday, July 8, 2016 photo, a pharmacist holds a package of EpiPens, an epinephrine autoinjector for the treatment of allergic reactions, in Sacramento, Calif. Price hikes for the emergency medicine have made its maker, Mylan, the latest target for patients and politicians infuriated by soaring drug prices.

"The substantial price increase could limit access to a much-needed medication," Grassley wrote to Mylan Chief Executive Heather Bresch in an Aug. 22 letter.

James Farr 2016-09-06
img

Heather Bresch, chief executive officer of drugmaker Mylan Inc.

On Tuesday, New York Attorney General Eric Schneiderman announced that his office is investigating Mylan Pharmaceuticals Inc, the maker of EpiPen, for potentially using anticompetitive terms in contracts it had with many school systems.

Those terms allowed schools to receive Mylan s EpiPens for free or at discounted prices—as long as they didn t buy any competitors' products for a year.

The terms may have helped Mylan hike the price of the life-saving medical devices without facing stiff competition from similar epinephrine-injecting products, such as Adrenaclick.

Since 2007, the year Mylan acquired EpiPen, the company has raised the price of the pens by more than 400 percent, pushing the list price above $600 and drawing sharp public and political criticism.

No child s life should be put at risk because a parent, school, or healthcare provider cannot afford a simple, life-saving device because of a drug-maker s anti-competitive practices, Schneiderman said in a news release.

Jackie Brown 2017-06-29
img

A whopping 83 percent of Mylan shareholders voted down the company’s astronomical executive compensation packages.

But a majority of shareholders still supports most of the company’s beleaguered directors, according to fresh filings with the US Securities and Exchange Commission.

The vote was closely watched after a group of shareholders, disgruntled by the EpiPen pricing scandal and executive pay, began campaigning to reject executive pay plans and oust the board—something that requires a two-thirds majority under Mylan’s governance rules.

However, most of the board of directors managed to garner majority support for their positions on the board.

Only Wendy Cameron, the compensation chair, had less than a majority of support: only about 44 percent of the nearly 400 million votes favored her maintaining the position.

CEO Heather Bresch, who has become the public face of the company after appearing for media interviews and defending EpiPen pricing before Congress, was well supported: about 72 percent of the votes were in her favor.