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Post by mannmade on Sept 20, 2016 12:30:55 GMT -5
West Virginia has taken a huge shot at the maker of the EpiPen
Linette Lopez
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Mylan CEO Heather Bresch
Mylan CEO Heather Bresch. Flickr/Center for American Progress
West Virginia is accusing Mylan, the maker of the EpiPen, a life-saving autoinjector used to treat severe allergic reactions, of Medicaid fraud.
Specifically, it's accusing the company of inflating the price of the EpiPen by 500%. The case was announced by the state's Attorney General, Patrick Morrisey.
The price of the EpiPen (now $608 for a two-pack) caused national outrage earlier this year. Mylan purchased the drug back in 2007 when it cost $100.
That price increase has angered Washington and sent the company's stock plummeting. Rep. Elijah Cummings of Maryland requested a hearing to be held Wednesday.
Mylan's CEO, Heather Bresch, is the daughter of Joe Manchin, the US senator from West Virginia. That hasn't saved her company from scrutiny, and shortly after the EpiPen pricing scandal began Manchin said what she did should be illegal and vowed to support legislation against dramatic price increases.
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Post by mnkdfann on Sept 21, 2016 8:02:24 GMT -5
Mylan's CEO, Heather Bresch, is the daughter of Joe Manchin, the US senator from West Virginia. That hasn't saved her company from scrutiny, and shortly after the EpiPen pricing scandal began Manchin said what she did should be illegal and vowed to support legislation against dramatic price increases. I know you are cutting and pasting (i.e. not making the claim yourself), but that cut and pasted bit is factually incorrect. Here is the story: www.businessinsider.com/west-virginia-accuses-mylan-of-medicaid-fraud-2016-9Follow a link in the article above it takes you to this: www.nationaljournal.com/s/72767/senator-manchin-what-my-daughter-did-should-be-illegal"West Virginia senator vows to support legislation that would stop CEOs like his daughter from renouncing firms’ U.S. citizenship." What he talked about making illegal is a tax dodge, not the pricing. More detail: theintercept.com/2016/08/24/epipen-uproar-highlights-companys-family-ties-to-congress/"Manchin has spoken out against his daughter’s use of an inversion to renounce Mylan’s corporate citizenship, saying that such tax dodging should be illegal. He has not, however, made any public statement about EpiPens since the scandal came to light" www.bloomberg.com/politics/articles/2016-09-07/senator-praises-generous-daughter-who-raised-prices-on-epipens"West Virginia Senator Joe Manchin admits he’s a proud father seeing his daughter run a drug company, but he says he didn’t know much about the business decisions Mylan NV made as it raised prices more than 400 percent on the EpiPen -- and kept it that way on purpose." |
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