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Tuesday, August 30, 2016

Gov't Funds to Mylan Spiked After Manchin’s Daughter Became CEO

Millions in government funds directed to subsidiaries after Heather Bresch became CEO

Government funds awarded to Mylan, Inc. increased dramatically after the daughter of Sen. Joe Manchin (D., W.Va.) took over as its chief executive officer.

The pharmaceutical company Mylan sparked controversy this week for hiking the price of its EpiPen, an autoinjector used to counter allergic reactions. The life-saving device was sold wholesale at $56.64 per unit in 2009. That price skyrocketed to $317.82 by 2015, an increase of 461 percent. Company executives increased their own salaries as the cost of the EpiPen rose.

Heather Bresch, Manchin’s daughter, served as president of Mylan between 2009 and 2011. She took over as the company’s chief executive officer in 2012.

Bresch was paid $2,453, 456 in salary in 2007. Her total compensation increased to $18,931,068 in 2015, NBC News reported.



Anonymous said...

She made the company a lot of money.
Money, Money, Money.
That is what our sick world is all about.
She is par for the course.

Anonymous said...

The same gubmint who has provided a monopoly to this drug manufacturer wants us to believe they are always working for us! "Mylan benefited from factors including failed competitors, patent protections and laws requiring allergy medications in schools. Having a virtual monopoly has facilitated the rapid price hike. Mylan reached $1 billion in sales for the second time last year."

Anonymous said...

Well learned that Mylan is going to come out with a Generic EpiPen that will cost about $300.00 compared to $600.00. That means that instead of a 400% markup you will get it for a 200% markup. Wow I wonder how they can sleep at night with all that generosity. A 200% markup is just as bad a slap in the face. It is all about money with these greedy a-- people and the consumer gets the shaft if not death because of it. Use to be in this country a 50 - 60% markup was a good living but now we have to supply CEO's with $19 million dollar wages. Disgusting!!!!!!

Anonymous said...

There is no shame.

Anonymous said...

We shouldn't be too surprised by this. The Clinton's may have elevated influence peddling to an art form but they certainly don't have a monopoly. I hope there's an investigation. I'd like to hear the excuses.

Anonymous said...

Just wait. I bet they will make so few $300 units that you won't even be able to find them.