KEY TAKEAWAY: Mylan represents everything that’s wrong with big pharma from a CEO who earns tens of millions of dollars to increasing the price of a life saving product 450%. This is a storm that should not be permitted to pass.
Mylan is catching hell for the 480% price increase of their EpiPen and their corporate speak responses. It’s hard to comprehend that somewhere in their offices some one, or some people came up with the idea of increasing the price of a potential life saving product 450%. But this is company run by a CEO who has made several questionable moves including
-Reincorporated in the Netherlands in a tax-lowering transaction known as an inversion.
– Critics have called out the company for unusually high executive pay packages, questionable use of company jets, and murky relationships with board members.
-The West Virginia University M.B.A. controversy concerned the granting of an Executive MBA by West Virginia University to Mylan CEO Heather Bresch in 2007. An independent panel later concluded that the university changed its records, and granted the degree despite incomplete graduation requirements.
It’s interesting to note that Ms Bresch earned $18.1 million which would buy a hell of a lot of EpiPens but then why should she care?
What I find so hard to understand is why someone, within the organization proposes such a high price increase full well knowing that patients have to chose between possible life saving medication and putting food on the table? Somewhere there within that company are people with very low moral boundaries.