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Initech

(100,060 posts) Fri Aug 26, 2016, 12:18 PM Aug 2016

Mylan Pushed To Make Epipen Access Mandatory In Elementary Schools, Then Moved To Netherlands

EpiPens are mandatory for public schools in at least 11 states after Congress passed a law recommending their use — but the drug’s manufacturer pays no U.S. taxes at all after relocating overseas.

Mylan spent $4 million lobbying Congress to pass the 2013 School Access to Emergency Epinephrine Act, which offers incentives to schools to stock the potentially life-saving auto-injectors.

About a year and a half later, Mylan completed a corporate inversion to change its legal residence to the Netherlands, a tax haven, while keeping its headquarters and most of its employees in the Pittsburgh area.

The move allowed Mylan to cut its U.S. effective tax rate from 9.4 percent in 2013, the year Congress helped protect its market dominance, to negative 4.7 percent in 2015, according the group Americans For Tax Fairness.
http://www.rawstory.com/2016/08/mylan-pushed-for-law-to-make-epipens-mandatory-in-us-schools-then-fled-overseas-to-avoid-taxes/

This is a stupefying level of evil here. Heather Bresch knew damn well what she was doing, and then fled the country. WTF. We live in the Matrix.

12 replies

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Highlight:

Mylan Pushed To Make Epipen Access Mandatory In Elementary Schools, Then Moved To Netherlands (Original Post) Initech Aug 2016 OP

A bi-partisan matrix of corporatists. Mika Aug 2016 #1

The do nothing Congress is disgustingly complicit Divine Discontent Aug 2016 #2

.........she made a whopping $25.8 million. riversedge Aug 2016 #3

Here is info about a generic version of that epi pen. dixiegrrrrl Aug 2016 #4

As Hillary promotes ... she's breaking thru the corporate glass ceiling. Mika Aug 2016 #5

Thus story is deeper than it seems spinbaby Aug 2016 #6

Did dear daddy jehop61 Aug 2016 #7

Here's an idea gratuitous Aug 2016 #8

And force the Executives of the company to relocate. Thor_MN Aug 2016 #11

And yet Donald Trump is campaigning that the Corporate tax rate is TOO HIGH Johonny Aug 2016 #9

Why can't the FDA allow others to make a generic equivalent? Blue Idaho Aug 2016 #10

Long, complicated story. Here's an article from an allergy website explaining it. LeftyMom Aug 2016 #12

Mika

(17,751 posts)

1. A bi-partisan matrix of corporatists.

Reply to Initech (Original post)

Fri Aug 26, 2016, 12:23 PM

Aug 2016

Isn't this an example of a female CEO breaking the glass ceiling and pushing onward to success - like so many men do?
Isn't the fiduciary responsibility of a corporation to maximize the returns for investors?
Well, here's a prime example. The lobbying and campaign funding (aka: bribery) are all legal. Its one of the things that makes America "the greatest country in the world". Right, Winston?

Divine Discontent

(21,056 posts)

2. The do nothing Congress is disgustingly complicit

Reply to Initech (Original post)

Fri Aug 26, 2016, 12:37 PM

Aug 2016

I hope the govt ends up deciding somehow to make epinephrine injectors themselves for schools and non-profit medical centers. Or for everyone. So tired of companies raising prices just because they can take advantage of their near monopoly on a needed product.

riversedge

(70,182 posts)

3. .........she made a whopping $25.8 million.

Reply to Initech (Original post)

Fri Aug 26, 2016, 12:42 PM

Aug 2016

Whow. just whow!!

.........Bresch took home $4.9 million in 2009, but last year she made $13.1 million — and the year before, when she moved Mylan overseas after securing the Emergency Epinephrine Act, she made a whopping $25.8 million.

dixiegrrrrl

(60,010 posts)

4. Here is info about a generic version of that epi pen.

Reply to riversedge (Reply #3)

Fri Aug 26, 2016, 12:54 PM

Aug 2016

......generic Adrenaclick, also referred to as an "epinephrine auto-injector." Using a GoodRx coupon, you could get it for as low as $140 at Walmart or $205 at Rite-Aid. You might have heard its hard to get, but here's how to procure it.

n most states, to get the low-cost, EpiPen alternative, you can't use a prescription for "EpiPen" from your doctor. That's because pharmacists at your drugstore likely won't be able to automatically substitute the low-cost version if your prescription is written for EpiPen. Instead, ask your doctor to write a prescription for an "epinephrine auto-injector" or "generic Adrenaclick."

.......pharmacists in more than a dozen states, including California, Colorado, Connecticut, Florida, Vermont, and Washington can fill an EpiPen prescription with generic Adrenaclick—without returning to their physician for a new prescription, according to the drug's manufacturer, Impax Laboratories.

http://www.consumerreports.org/drugs/how-to-get-cheaper-epipen-alternative/

Mika

(17,751 posts)

5. As Hillary promotes ... she's breaking thru the corporate glass ceiling.

Reply to riversedge (Reply #3)

Fri Aug 26, 2016, 01:09 PM

Aug 2016

Finally!! A women making as much as the good ol' boys on Wall Street/pharma.

Interesting how she is targeted for this malfeasance, when our health care/pharma system is replete with shit like this.
It's not just her, nor her company ... it's the rigged system.

Who's in for some incremental change!!!

spinbaby

(15,088 posts)

6. Thus story is deeper than it seems

Reply to Initech (Original post)

Fri Aug 26, 2016, 01:23 PM

Aug 2016

On the surface, it looks like simple corporate greed, but the more you unravel it, the more you see How deep the rot goes and the more the rot stinks.

jehop61

(1,735 posts)

7. Did dear daddy

Reply to Initech (Original post)

Fri Aug 26, 2016, 01:44 PM

Aug 2016

recuse himself from the Senate vote for this? This whole story encapsulates just what is wrong with a Congress that serves corporations rather than the people. The fact that the CEO is female is irrelevant. Greed is the problem here.

gratuitous

(82,849 posts)

8. Here's an idea

Reply to Initech (Original post)

Fri Aug 26, 2016, 02:18 PM

Aug 2016

A company that does this - moving out of the U.S. to avoid paying taxes to support the patent system and pharmaceutical regulatory regime that guarantees their profitability - loses those protections. That is, Mylan suddenly has to re-certify with the FDA that the EpiPen now coming into the country from The Netherlands is still an efficacious and safe medicine, and they lose their patent on the EpiPen design.

Mylan's product is off the market for however long it takes for the FDA to re-certify it, and any U.S. company can pirate the EpiPen design for its own use without infringing on Mylan's now non-existent patent. Does that sound like a good deal?

Thor_MN

(11,843 posts)

11. And force the Executives of the company to relocate.

Reply to gratuitous (Reply #8)

Fri Aug 26, 2016, 07:32 PM

Aug 2016

Revoke any and all government contracts, refuse to protect the companies interests abroad.

Johonny

(20,829 posts)

9. And yet Donald Trump is campaigning that the Corporate tax rate is TOO HIGH

Reply to Initech (Original post)

Fri Aug 26, 2016, 02:22 PM

Aug 2016

seriously this whole episode highlights everything wrong in America's corporate world

Blue Idaho

(5,045 posts)

10. Why can't the FDA allow others to make a generic equivalent?

Reply to Initech (Original post)

Fri Aug 26, 2016, 02:31 PM

Aug 2016

Considering congress mandated Schools buy them, why can't the FDA now allow others to compete to supply the schools with an alternatively sourced product?

LeftyMom

(49,212 posts)

12. Long, complicated story. Here's an article from an allergy website explaining it.

Reply to Blue Idaho (Reply #10)

Fri Aug 26, 2016, 07:41 PM

Aug 2016

http://snacksafely.com/2016/07/epinephrine-auto-injectors-where-is-the-long-promised-generic/

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