On CBS this morning the CEO of Mylan tried to explain the price increase of the Epipen and looked like a fool using “corporate PR” speak. The public is not this stupid and again, Ms Bresch clearly showed why pharma CEO’s are living with alternate facts.
Why did the price of EpiPen increase 500 percent over the past decade?” O’Donnell asked.
“Because we realized there was an unmet need. … And so we made a conscious decision, the board, we put a business plan together to invest, to build public awareness and access,” Bresch said. “We’re now in over 70,000 schools across America. We’ve donated more than 800,000 free EpiPens… and remember that that price incorporates the entire supply chain. But it was that investment over the last eight years that would allow us to reach patients and save lives.” Because Mylan wanted to make it more accessible, it became more expensive, Bresch said.
“That price went up because we were making investment. As I said, about $1 billion over the last decade that we invested in the product that we could reach physicians and educate legislatures,”.
That my friends is complete bullshit and corporate PR talk for “we increased the price because we could and to make money”. Ms Bresch actually had the nerve to say “because Mylan wanted to make it more accessible, it became more expensive”. Translation is we wanted t add marketing and sales and decided in the process the price was too low.
Does Ms Bresch actually think the public is that stupid? She then tried to explain that Mylan only makes $274 per product as resellers take chunks of the price.
The president of the national association representing America’s PBMs, Pharmaceutical Care Management Association, told CBS News: “Mylan stands out for its refusal to accept responsibility for its own high prices … PBMs, which reduce prescription drug costs by 30% for employers, unions, public programs and the patients they serve are part of the solution.”
This interview was an embarrassment for Ms Bresch who used the expression “you know” several times. Judging from the comment most people saw through this PR disaster.