You know heather bresch is such a liar. Here it is that this witch is trying to blame the current healthcare program instead of her own greed. NOw the epi pen went from $100 to $600 and ridiculously claim she had nothing to do with it! Really?!!? Could it be that your salary which went from $5 million dollars to $19 million dollars, that had nothing to do with it? Greed is the reason prices went up and they feel like people have nowhere else they can go to get this medicine! Well if there is not another company here in the United States, then lets take a look at Canada, Iceland, Brazil, and even Mexico! I call upon all healthcare providers to cancel their contracts with these greedy God-less bastards, and get our medicines from some other company other than them. This is what a lack of competition does; it creates greedy bitches like this who want to take advantage of people coz' they feel they have nowhere else to turn! We need to shut this company down and investigate if they've done something else they can be brought to trial and thrown in jail for, IF NOT THIS PARTICULAR INCIDENT!
<p>Pro: Heather Bresch made a big mistake </p>
<p>Bill George, Harvard Business School professor
&amp; fmr. Medtronic chairman and CEO, shares his take on Mylan and
the EpiPen pricing outrage. </p>
Pro: Heather Bresch made a big mistake
Mylan
CEO Heather Bresch is coming under new scrutiny for her company's
decision to raise the price of lifesaving EpiPens more than fourfold
over the past eight years.
For people who closely
watch the pharmaceutical industry, Bresch is well-known. But among a
broader audience, few people know who she is.
That is changing as Democratic presidential nominee Hillary Clinton, the American Medical Association and a number of U.S. senators are calling on Bresch to roll back the steep price hikes on EpiPens.
So, who is Bresch, and what is her backstory?
The CEO is the daughter of a U.S. senator. She reincorporated her U.S.-based drug company in the Netherlands, which cut its tax liability.
She also retroactively was awarded an MBA from West Virginia University while her dad was governor of that state despite not having enough academic credits. At the time, the university's president was both a former lobbyist for her drug company and a high school classmate of hers.
And Bresch has also overseen her company's increase in the price of EpiPens from $100 in 2008, to more than $600 for some customers today. During that time, her compensation has risen nearly 700 percent
When Bresch took over as CEO in 2012, Mylan's stock was trading at almost $22 per share. The shares are up 101 percent under her leadership. Revenue has risen 38.5 percent since she took over, to $9.47 billion at the end of 2015.
Bresch, 47, has been thrust in the spotlight in recent days after colleagues of her father Sen. Joe Manchin, D.-W.Va., in the Senate have expressed outrage about the stunning price hikes for EpiPen, a device that contains just a dollar or so's worth of the drug epinephrine.
EpiPens are used by people having an allergic reaction known as anaphylaxis, which can be fatal. People with allergies — or parents of children with allergies — are encouraged to have multiple sets of EpiPens for home, school and elsewhere. While insurance often covers some of the cost, many people have to pay out of pocket for the devices, sometimes up to the full price.
Clinton, a former senator from New York, on Wednesday called Mylan's price increases "outrageous," and "just the latest troubling example of a company taking advantage of its consumers."
"Since there is no apparent justification in this case" for the EpiPen price hikes "I am calling on Mylan to immediately reduce the price of EpiPens," Clinton said in a statement.
The AMA, the nation's largest doctors' group, earlier Wednesday said that "with lives on the line, we urge the manufacturer to do all it can to rein in these exorbitant costs."
Bresch, who has been CEO since 2012, did not return a request for comment from CNBC on Wednesday.
Neither did Mylan nor Bresch's father, Manchin, whose Senate colleagues are calling for hearings on the price of EpiPens, and one of whom, Sen. Amy Klobuchar, D-Minn., has asked for the Federal Trade Commission to investigate.
That is changing as Democratic presidential nominee Hillary Clinton, the American Medical Association and a number of U.S. senators are calling on Bresch to roll back the steep price hikes on EpiPens.
So, who is Bresch, and what is her backstory?
The CEO is the daughter of a U.S. senator. She reincorporated her U.S.-based drug company in the Netherlands, which cut its tax liability.
She also retroactively was awarded an MBA from West Virginia University while her dad was governor of that state despite not having enough academic credits. At the time, the university's president was both a former lobbyist for her drug company and a high school classmate of hers.
And Bresch has also overseen her company's increase in the price of EpiPens from $100 in 2008, to more than $600 for some customers today. During that time, her compensation has risen nearly 700 percent
When Bresch took over as CEO in 2012, Mylan's stock was trading at almost $22 per share. The shares are up 101 percent under her leadership. Revenue has risen 38.5 percent since she took over, to $9.47 billion at the end of 2015.
Bresch, 47, has been thrust in the spotlight in recent days after colleagues of her father Sen. Joe Manchin, D.-W.Va., in the Senate have expressed outrage about the stunning price hikes for EpiPen, a device that contains just a dollar or so's worth of the drug epinephrine.
EpiPens are used by people having an allergic reaction known as anaphylaxis, which can be fatal. People with allergies — or parents of children with allergies — are encouraged to have multiple sets of EpiPens for home, school and elsewhere. While insurance often covers some of the cost, many people have to pay out of pocket for the devices, sometimes up to the full price.
Clinton, a former senator from New York, on Wednesday called Mylan's price increases "outrageous," and "just the latest troubling example of a company taking advantage of its consumers."
"Since there is no apparent justification in this case" for the EpiPen price hikes "I am calling on Mylan to immediately reduce the price of EpiPens," Clinton said in a statement.
The AMA, the nation's largest doctors' group, earlier Wednesday said that "with lives on the line, we urge the manufacturer to do all it can to rein in these exorbitant costs."
Bresch, who has been CEO since 2012, did not return a request for comment from CNBC on Wednesday.
Neither did Mylan nor Bresch's father, Manchin, whose Senate colleagues are calling for hearings on the price of EpiPens, and one of whom, Sen. Amy Klobuchar, D-Minn., has asked for the Federal Trade Commission to investigate.
Employees at Mylan and a political action
committee affiliated with the company from 2009 until 2012 contributed a
total of $127,500 toward Manchin's special election to the Senate and
then re-election in 2012, the second-largest amount of any single
company toward Manchin, according to OpenSecrets.org.
Records from OpenSecrets show that Mylan has given $72,543 to Senate
and House of Representative members' campaign committees so far this
year, but Manchin's more than $57,000 haul in 2012 from the company is
more than five times the amount the firm gave to any other single
candidate.
On Wednesday, Wells Fargo, in a research note, said that disclosure documents show that Mylan has been "actively lobbying" in favor of a bill in the Senate that would mandate that all airlines, domestic and foreign, carry at least two packs of epinephrine auto-injectors. EpiPens are, by a large degree, the most commonly used devices of that nature in the United States.
Mylan has spent a reported $875,000 on lobbying so far this year, after having spent $1.55 million in 2015, according to OpenSecrets.org,
On Tuesday, CNBC noted how Bresch's company, in addition to hiking the price of EpiPen by double-digit percentage amounts ever since Mylan acquired the device in 2007, has also been sharply raising the prices of other products this year.
On Wednesday, Wells Fargo, in a research note, said that disclosure documents show that Mylan has been "actively lobbying" in favor of a bill in the Senate that would mandate that all airlines, domestic and foreign, carry at least two packs of epinephrine auto-injectors. EpiPens are, by a large degree, the most commonly used devices of that nature in the United States.
Mylan has spent a reported $875,000 on lobbying so far this year, after having spent $1.55 million in 2015, according to OpenSecrets.org,
On Tuesday, CNBC noted how Bresch's company, in addition to hiking the price of EpiPen by double-digit percentage amounts ever since Mylan acquired the device in 2007, has also been sharply raising the prices of other products this year.
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