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Photographer

(1,142 posts) Wed Aug 24, 2016, 11:32 AM Aug 2016

After jacking up EpiPen prices, pharma CEO boosted her salary to almost $19 million

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As outrage sweeps across the Internet at the price hike for the life-saving EpiPen, it turns out that prices weren’t the only thing to skyrocket at the pharma company Mylan.

According to a report from NBC News, from 2007 to 2015, Mylan CEO Heather Bresch’s salary went from $2,453,456 to $18,931,068, a 671 percent increase.

During that same period, Mylan raised EpiPen prices from $56.64 to $317.82, a 461 percent increase.

NBC News reports that in 2007, Mylan bought the rights to the device, which uses a medication called epinephrine to stop potentially fatal allergic reactions in people. Starting in 2008, the company raised the price of EpiPens by 5 percent, then jacked it up to a 19 percent increase in 2009, and then another hike of 10 percent each year from 2010 to 2013.

Staring in the fourth quarter of 2013 to the second quarter of 2016, “Mylan steadily raised EpiPen prices 15 percent every other quarter” with the stock price more than tripling from $13.29 in 2007 to a high of $47.59 in 2016.

http://deadstate.org/after-jacking-up-epipen-prices-pharma-ceo-boosted-her-salary-to-almost-19-million/

18 replies

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Highlight:

After jacking up EpiPen prices, pharma CEO boosted her salary to almost $19 million (Original Post) Photographer Aug 2016 OP

Anaphylactic shock is one of those things that can kill you fast. You wonder if some people.... Hekate Aug 2016 #1

Yes Calculating Aug 2016 #14

Why am I not surprised that this parasite is related to Joe Manchin? Chakab Aug 2016 #2

A Republican Politician in the Making! The Roux Comes First Aug 2016 #3

Would be surprising considering who her father is. Bonx Aug 2016 #5

Guess she could still be but her father is Democratic Senator Joe Manchin of WV. EV_Ares Aug 2016 #7

Joe Manchin is a DINO BlueInPhilly Aug 2016 #10

Denying people healthcare kills far more people than guns in the USA. appal_jack Aug 2016 #16

Actually a member of the Clinton Global Initiative appal_jack Aug 2016 #11

Heather Bresch is the daughter of WV Senator Joe Manchin..... Avalux Aug 2016 #4

These medicines should be over the counter. All drugs should be open for several companies to make. Sunlei Aug 2016 #6

Maybe the government should go into the drug manufacturing business. Vinca Aug 2016 #8

I really hope there is such a thing as Karma in this lifetime. smirkymonkey Aug 2016 #9

Is it wrong of me to hope she gets anaphylaxis? NightWatcher Aug 2016 #12

I hope Martin Shekeil or whatever his name is..gets AIDS white_wolf Aug 2016 #18

This is one of those things that Reverend Dr. Barber spoke of at the convention. hamsterjill Aug 2016 #13

They don't care Calculating Aug 2016 #15

Adding insult to injury, they also did a tax inversion in 2014. Snarkoleptic Aug 2016 #17

Hekate

(90,565 posts)

1. Anaphylactic shock is one of those things that can kill you fast. You wonder if some people....

Reply to Photographer (Original post)

Wed Aug 24, 2016, 11:39 AM

Aug 2016

....are born without a human heart or soul.

Calculating

(2,955 posts)

14. Yes

Reply to Hekate (Reply #1)

Wed Aug 24, 2016, 03:31 PM

Aug 2016

They're called sociopaths. To a sociopath, fellow humans are just assets to be used and exploited.

Chakab

(1,727 posts)

2. Why am I not surprised that this parasite is related to Joe Manchin?

Reply to Photographer (Original post)

Wed Aug 24, 2016, 11:43 AM

Aug 2016

The Roux Comes First

(1,298 posts)

3. A Republican Politician in the Making!

Reply to Photographer (Original post)

Wed Aug 24, 2016, 11:45 AM

Aug 2016

I got mine! None for you.

Bonx

(2,053 posts)

5. Would be surprising considering who her father is.

Reply to The Roux Comes First (Reply #3)

Wed Aug 24, 2016, 11:53 AM

Aug 2016

EV_Ares

(6,587 posts)

7. Guess she could still be but her father is Democratic Senator Joe Manchin of WV.

Reply to The Roux Comes First (Reply #3)

Wed Aug 24, 2016, 12:23 PM

Aug 2016

BlueInPhilly

(870 posts)

10. Joe Manchin is a DINO

Reply to EV_Ares (Reply #7)

Wed Aug 24, 2016, 12:37 PM

Aug 2016

http://thehill.com/policy/healthcare/227198-manchin-siding-with-nra-against-surgeon-general-nominee

appal_jack

(3,813 posts)

16. Denying people healthcare kills far more people than guns in the USA.

Reply to BlueInPhilly (Reply #10)

Wed Aug 24, 2016, 08:13 PM

Aug 2016

I am glad that Manchin stands up for the Second Amendment; too few Democrats do. Opposing the Surgeon General nominee might not be the most productive tactic, but whatever; it's a sideshow. His daughter's actions are far more reprehensible: actually depriving people with life-threatening conditions the medication they need. She is selfish, corporatist slime.

-app

appal_jack

(3,813 posts)

11. Actually a member of the Clinton Global Initiative

Reply to The Roux Comes First (Reply #3)

Wed Aug 24, 2016, 02:07 PM

Aug 2016

This shitstain is on corporate Dems, much as I wish that only Repubs were this horrible:

https://www.scribd.com/document/35046616/081-Clinton-s-Global-Initiative-2007-Members-include-ARK-Paul-Bernstein

Heather Bresch
Head of North American Operations
Mylan Laboratories Incorporate

Single-Payer, Public, Universal Healthcare Now!

-app

Avalux

(35,015 posts)

4. Heather Bresch is the daughter of WV Senator Joe Manchin.....

Reply to Photographer (Original post)

Wed Aug 24, 2016, 11:46 AM

Aug 2016

Mylan Pharmaceuticals is headquartered in WV. Nothing funny going on there, really!

I've worked with that pharma co. in the past and would like nothing more than to see them crash and burn; no ethics. The made a business decision that could kill a lot of people.

Sunlei

(22,651 posts)

6. These medicines should be over the counter. All drugs should be open for several companies to make.

Reply to Photographer (Original post)

Wed Aug 24, 2016, 12:01 PM

Aug 2016

Competition between several manufacturers will lower the price for any item that costs $1 baseline.

Vinca

(50,237 posts)

8. Maybe the government should go into the drug manufacturing business.

Reply to Photographer (Original post)

Wed Aug 24, 2016, 12:28 PM

Aug 2016

Taxpayers shouldn't have to risk certain death because greedy CEOs exist.

smirkymonkey

(63,221 posts)

9. I really hope there is such a thing as Karma in this lifetime.

Reply to Photographer (Original post)

Wed Aug 24, 2016, 12:31 PM

Aug 2016

And I hope I am around to witness it in this particular case.

NightWatcher

(39,343 posts)

12. Is it wrong of me to hope she gets anaphylaxis?

Reply to smirkymonkey (Reply #9)

Wed Aug 24, 2016, 02:09 PM

Aug 2016

Her actions will kill people.

white_wolf

(6,238 posts)

18. I hope Martin Shekeil or whatever his name is..gets AIDS

Reply to NightWatcher (Reply #12)

Wed Aug 24, 2016, 08:31 PM

Aug 2016

and then loses all his money so he can't afford the drug he jacked up by a few thousand percent. Apparently I'm not a nice person..

hamsterjill

(15,220 posts)

13. This is one of those things that Reverend Dr. Barber spoke of at the convention.

Reply to Photographer (Original post)

Wed Aug 24, 2016, 03:25 PM

Aug 2016

This is not a liberal issue versus a conservative issue.

This is an issue of right versus wrong.

Good heavens - people who cannot afford the hike in price will die. How can anyone be so heartless, and who in their right mind needs at $18 million annual salary? I'm sorry, but this whole thing is just ridiculous.

I understand business. But I also understand right versus wrong.

Calculating

(2,955 posts)

15. They don't care

Reply to hamsterjill (Reply #13)

Wed Aug 24, 2016, 03:47 PM

Aug 2016

They're not in the business of helping people. They're in the business of making money for their shareholders and getting bonuses. Only thing that will fix this mess is government regulation. The pharma industry has been proven to be to greedy to handle drug pricing.

The electric company can't just jack up your rates by 500% overnight for no good reason. This is because they're actually regulated. Time to give Big Pharma the same treatment.

Snarkoleptic

(5,997 posts)

17. Adding insult to injury, they also did a tax inversion in 2014.

Reply to Photographer (Original post)

Wed Aug 24, 2016, 08:30 PM

Aug 2016

See look, we're from The Netherlands now!

http://qz.com/765333/exorbitant-prices-are-just-one-reason-to-loathe-the-company-that-makes-the-epipen/

In 2014, Mylan purchased the generics business of Abbott Laboratories, which allowed the Pennsylvania company to shift its corporate headquarters to the Netherlands, cutting its tax bill. That tax “inversion” drew the ire of President Obama, who criticized Mylan and other companies as unpatriotic. Mylan executive chairman Robert Coury, 55, fired back in an op-ed in USA Today, saying it was the equivalent of calling Americans who buy foreign products unpatriotic. With head-scratching logic, he pointed out that many antibiotics are no longer made in the US. “Should Americans stop taking these lifesaving medicines because they aren’t ‘Made in the USA?’ ” he wrote.

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