True Pundit

Business

The CEO of Mylan Lied to Congress, Actually Earns 60 Percent More on Each EpiPen

FOLLOW US!
Follow on FacebookFollow on Twitter

Last week, Heather Bresch, the CEO of Mylan Pharmaceuticals, testified in front of Congress about why the company has raised the price of EpiPen from roughly $57 in 2007 to $600 today. Under intense questioning, she claimed that the company only makes about $100 per 2-pack of EpiPens. Today the company was forced to “clarify” that the price was actually higher. They make $160.

Bresch spent a good deal of her time testifying last week by explaining that even though the price of the EpiPen is $600, that entire price doesn’t go straight to Mylan. It was a rather offensive and obtuse show, with Bresch attempting to explain that those who distribute and manufacture the product also get a cut. But Congress, much like the public, were curious just how much of that money was going straight in Mylan’s pocket. Bresch said it was just $100. Which was a lie. – READ MORE

FOLLOW US!
Follow on FacebookFollow on Twitter