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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPharma CEO gave herself an $18 million raise after hiking EpiPen prices
http://usuncut.com/class-war/pharma-ceo-epipen/The pharmaceutical company that cornered the market on the life-saving EpiPen and dramatically increased its price also jacked up the pay of top executives.
Between 2007, when Mylan acquired the patent for the EpiPen, to 2015, the wholesale price had skyrocketed from $56.64 to $317.82 a price increase of 461 percent. Similarly, compensation for Mylan CEO Heather Bresch increased astronomically over the same time period. According to NBC News, Bresch went from making $2.453,456 in 2007 to $18,931,068 in 2015, amounting to a 671 percent raise over eight years.
But Bresch wasnt alone in the windfall resulting from the rising price of the EpiPen. Mylans president, Rajiv Malik, saw his base pay increase by 11 percent to $1 million annually as of 2015, while Mylan Chief Commercial Officer Anthony Mauro got a 13.6 percent raise, amounting to $625,000 per year.
Millions of people with life-threatening allergies, particularly food allergies, depend on the EpiPen for survival. When used, the EpiPen provides an emergency dosage of epinephrine to the user, inhibiting a potentially fatal allergic reaction, known as anaphylaxis, from occurring.
Between 2007, when Mylan acquired the patent for the EpiPen, to 2015, the wholesale price had skyrocketed from $56.64 to $317.82 a price increase of 461 percent. Similarly, compensation for Mylan CEO Heather Bresch increased astronomically over the same time period. According to NBC News, Bresch went from making $2.453,456 in 2007 to $18,931,068 in 2015, amounting to a 671 percent raise over eight years.
But Bresch wasnt alone in the windfall resulting from the rising price of the EpiPen. Mylans president, Rajiv Malik, saw his base pay increase by 11 percent to $1 million annually as of 2015, while Mylan Chief Commercial Officer Anthony Mauro got a 13.6 percent raise, amounting to $625,000 per year.
Millions of people with life-threatening allergies, particularly food allergies, depend on the EpiPen for survival. When used, the EpiPen provides an emergency dosage of epinephrine to the user, inhibiting a potentially fatal allergic reaction, known as anaphylaxis, from occurring.
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Pharma CEO gave herself an $18 million raise after hiking EpiPen prices (Original Post)
KamaAina
Aug 2016
OP
GummyBearz
(2,931 posts)1. Don't worry
Obama fixed healthcare. This is just some kind of smear campaign
Kansaskid
(17 posts)2. West Virgina blow back
She is the daughter of Senator Joe Manchin of West Virginia. Wonder how his constituents are reacting?
Liberal_in_LA
(44,397 posts)3. k&r
alittlelark
(18,890 posts)4. I did not get new epipens a few months ago
...it was almost $600 at Costco..... My Fatal nut allergy be damned....The ones I have are only a few years past the expiration date.
question everything
(47,437 posts)5. We are not responsidble for out adult children, nor our spouses
but... she is Senator Joe Manchin's daughter...
sarcasmo
(23,968 posts)6. Scumbag