Mylan CEO crashes and burns defending pay raise amid EPIPen price hike
August 26, 2016
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12:30Now PlayingMylan CEO crashes and burns defending pay raise amid EPIPen price hike
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"In an interview with CNBC on Thursday, Bresch insisted that “no one is more frustrated than I am” about the price increase, which she said was necessary to cover all the marketing and distribution costs that are needed to make the drug more widely available.
“We’re manufacturing the product, distributing the product, enhancing the product, investing,” she explained. “When we took over this product eight years ago, there was very, very little awareness. We have doubled the lives of patients who are carrying an EpiPen. We have passed legislation in 48 states to allow undesignated EpiPens to be in schools.”
Of course, none of this addresses the criticism that raising prices by such high amounts ensures that fewer children will have access to the drugs because their parents won’t be able to afford them.
CNBC interviewer Brian Sullivan also pointed out that the American Medical Association has said that EpiPens are the same product that they were in 2009, and thus nothing justifies such massive price hikes.
“Everybody should be frustrated,” she replied without actually addressing this criticism. “I am hoping this is an inflection point for this country.”
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