Mylan Spikes EpiPens Price
EpiPens now cost up to $600 for a two-pack, 500% more than in 2007, under Mylan CEO Heather Bresch who is in question of corruption.
Since 2007, when Mylan Pharmaceuticals bought the patent for EpiPens, EpiPens are continuously being raised in price, causing significant toll on parents and school budgets. Democrat Bernie Sanders tweeted “There’s no reason an EpiPen, which costs Mylan just a few dollars to make, should cost families more than $600.”
A root cause of this is seen in possible corruption. According to the NBC, nearly 1.2 million dollars have been put into lobbying in Congress, with the lobbying advocating for laws that would profit the company. Soon after, the FDA did pass those laws.
Bresch merged the company with another in the Netherlands in 2015, making guilty of tax inversion. By moving the headquarters to Netherlands, the company will be able to save money on taxes.
The CEO’s base pay has gone from $2.5 million dollars in 2007 to $19 million dollars in 2015. Another prime example of the corruption in the country is President Rajiv Malik, who now earns $1 million a year, or Chief Commercial Officer Anthony Mauro who has seen a rise up of 13.6 percent, totaling at $625,000.
After much public outcry, the company has started to offer half-off coupons to customers. Schools have been supplied lifesaving EpiPens free of charge.