Price gouging EPI-PEN CEO dodged taxes then gave herself raise
August 25, 2016
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10:39Now PlayingPrice gouging EPI-PEN CEO dodged taxes then gave herself raise
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"According to a report from NBC News, from 2007 to 2015, Mylan CEO Heather Bresch’s compensation 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."
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