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The controversy surrounding the skyrocketing costs of Mylan's EpiPens, medication that counteracts potentially deadly allergic reactions, is "a product of their own success," according to a Wall Street Journal reporter on the pharma beat. "For a long time, this wasn't a product that many people knew about or wanted and it's really a credit to Mylan for making it into a brand with a name that is as well-recognized and highly sought as Band-Aids," Jonathan Rockoff said on Friday's MetroNews "Talkline."
The mounting congressional scrutiny of pharmaceutical giant Mylan over its 400 percent price hike for EpiPen has created an awkward situation on Capitol Hill for Democratic Sen. Joe Manchin -- his daughter runs the company at the center of the scandal. Colleagues on both sides of the aisle, as well as Democratic presidential candidate Hillary Clinton, are now slamming Mylan and demanding investigations into why prices were jacked so high on the lifesaving allergy treatment drug.
Heather Bresch, the Mylan CEO under fire for skyrocketing EpiPen costs, believes Americans should redirect their anger toward a "broken" health care system. Mylan was forced to respond to the national outrage over a more than 400% increase in price for the lifesaving allergy treatment by pledging on Thursday to make it more affordable.
Mylan Pharmaceuticals said Thursday that it would be giving a $300 "savings card" discount for a two-pack of EpiPens amid pressure to cut the price of the drug. Mylan has increased the price of EpiPen by 500% since it acquired the drug in 2007, and it didn't budge on the actual list price of the drug.
Drug maker Mylan said Thursday that it would offer discounts on a life-saving allergy shot after generating a firestorm when it implemented sharp price increases for the treatment. EpiPen maker to offer discounts after price hike firestorm Drug maker Mylan said Thursday that it would offer discounts on a life-saving allergy shot after generating a firestorm when it implemented sharp price increases for the treatment.
U.S. Sen. Joe Manchin remained mum Wednesday as a pharmaceutical company run by his daughter faced mounting criticism for hiking prices on life-saving allergy injection pens. The Democratic West Virginia senator's daughter, Heather Bresch , is CEO of Mylan, the manufacturer of EpiPens.
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Watch Interview With Kansas City Fed President Esther George on Mornings with Maria on Fox Business at 7:30 ET Just about a year after Democratic presidential nominee sent biotechnology stocks and exchange traded funds tumbling with rhetoric aimed at high drug prices, one would think that any healthcare company and its executives opting to raise prices on devices, pharmaceuticals and treatments by hundreds of a percent is just asking for trouble. Well, Mylan NV can now be a case study in bungling executive leadership after revealing steep price increases for its EpiPen used to treat patients with severe allergic reactions.
U.S. Sen. Joe Manchin remained mum Wednesday as a pharmaceutical company run by his daughter faced mounting criticism for hiking prices on life-saving allergy injection pens. The Democratic West Virginia senator's daughter, Heather Bresch, is CEO of Mylan, the manufacturer of EpiPens.
U.S. Sen. Amy Klobuchar speaks about price hikes for EpiPens, the emergency drug injectors for severe allergic reactions, at Children's Hospital on Wednesday, Aug. 24, 2016, in Minneapolis. Klobuchar, a Minnesota Democrat who has worked to contain prescription drug price increases and whose 21-year-old daughter carries an EpiPen because of severe nut allergies, is one of several members of Congress demanding more information on why EpiPen prices have soared less U.S. Sen. Amy Klobuchar speaks about price hikes for EpiPens, the emergency drug injectors for severe allergic reactions, at Children's Hospital on Wednesday, Aug. 24, 2016, in Minneapolis.
Colombia's government will unilaterally force the world's largest drugmaker Novartis to lower prices of a popular leukemia medicine in a closely followed patent dispute, authorities said Thursday. Health Minister Alejandro Gaviria told reporters that two weeks of negotiations with the Swiss company had ended without an agreement.