Senator's daughter who raised price of EpiPen got $19 million salary, perks in 2015

Padawanbater2

Padawanbater2

Well-Known Member
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"This isn't the first time Mylan chief executive Heather Bresch has been under fire.

Bresch, who started out in a low-level position in quality control at one of the company's factories, is the first female head of a large pharmaceutical company. She made a name for herself by turning the EpiPen - once an obscure injection device for allergy sufferers that she calls her "baby" -- into a blockbuster billion-dollar drug. But the 47-year-old has found herself in the hot seat in recent weeks as consumers and lawmakers have expressed outrage over the rising cost of the drug and have called for investigations into the company's pricing practices."

""EpiPen prices aren't the only thing to jump at Mylan," NBC News reported. According to Securities and Exchange Commission filings, Bresch's total compensation went from $2,453,456 to $18,931,068 from 2007 to 2015. That's a striking 671 percent increase. That period coincides with the time when Mylan acquired the rights to EpiPens and steadily hiked the average wholesale price from about $55 to $320."

http://www.chicagotribune.com/business/ct-epipen-ceo-bresch-salary-20160824-story.html


"Mylan acquired the EpiPen line of epinephrine autoinjector devices from Merck KGaA as part of their 2007 deal. The devices deliver about $1 worth of drug. At that time annual sales were around $200M. Heather Bresch, Mylan's CEO, saw an opportunity to increase sales in the US through marketing and advocacy, and the company launched a marketing campaign to increase awareness of the dangers of anaphylaxis for people with severe allergies that made "EpiPen" the equivalent of "Kleenex"; the company also successfully lobbied the FDA to broaden the label to include risk of anaphylaxis and in parallel, successfully lobbied Congress to generate legislation making EpiPens available in public places like defibrillators are, and hired the same people that Medtronic had worked with on defibrillator legislation to do so. Mylan's efforts to gain market dominance were aided when Sanofi's competing product was recalled in November 2015 and further when Teva's generic competitor was rejected by the FDA in March 2016. By the first half of 2015, Mylan had an 85% market share of such devices in the US and in that year sales reached around $1.5B and accounted for 40% of Mylan's profit. Those profits were also due in part to Mylan's continually raising the price of EpiPens starting in 2009; in 2007 the wholesale price of two EpiPens was about $100, the price was about the same in 2009, by July 2013 the price about $265, in May 2015 it was around $461, and in May 2016 the price rose again to around $609 - around a 500% jump from the price in 2009. The last price increase sparked widespread outrage, including criticism from Martin Shkreli, "poster boy for grasping pharma greed," letters from two Senators and initiation of Congressional investigations."

https://en.wikipedia.org/wiki/Epinephrine_autoinjector
 
ttystikk

ttystikk

Well-Known Member
Padawanbater2 said:
View attachment 3765150

"This isn't the first time Mylan chief executive Heather Bresch has been under fire.

Bresch, who started out in a low-level position in quality control at one of the company's factories, is the first female head of a large pharmaceutical company. She made a name for herself by turning the EpiPen - once an obscure injection device for allergy sufferers that she calls her "baby" -- into a blockbuster billion-dollar drug. But the 47-year-old has found herself in the hot seat in recent weeks as consumers and lawmakers have expressed outrage over the rising cost of the drug and have called for investigations into the company's pricing practices."

""EpiPen prices aren't the only thing to jump at Mylan," NBC News reported. According to Securities and Exchange Commission filings, Bresch's total compensation went from $2,453,456 to $18,931,068 from 2007 to 2015. That's a striking 671 percent increase. That period coincides with the time when Mylan acquired the rights to EpiPens and steadily hiked the average wholesale price from about $55 to $320."

http://www.chicagotribune.com/business/ct-epipen-ceo-bresch-salary-20160824-story.html


"Mylan acquired the EpiPen line of epinephrine autoinjector devices from Merck KGaA as part of their 2007 deal. The devices deliver about $1 worth of drug. At that time annual sales were around $200M. Heather Bresch, Mylan's CEO, saw an opportunity to increase sales in the US through marketing and advocacy, and the company launched a marketing campaign to increase awareness of the dangers of anaphylaxis for people with severe allergies that made "EpiPen" the equivalent of "Kleenex"; the company also successfully lobbied the FDA to broaden the label to include risk of anaphylaxis and in parallel, successfully lobbied Congress to generate legislation making EpiPens available in public places like defibrillators are, and hired the same people that Medtronic had worked with on defibrillator legislation to do so. Mylan's efforts to gain market dominance were aided when Sanofi's competing product was recalled in November 2015 and further when Teva's generic competitor was rejected by the FDA in March 2016. By the first half of 2015, Mylan had an 85% market share of such devices in the US and in that year sales reached around $1.5B and accounted for 40% of Mylan's profit. Those profits were also due in part to Mylan's continually raising the price of EpiPens starting in 2009; in 2007 the wholesale price of two EpiPens was about $100, the price was about the same in 2009, by July 2013 the price about $265, in May 2015 it was around $461, and in May 2016 the price rose again to around $609 - around a 500% jump from the price in 2009. The last price increase sparked widespread outrage, including criticism from Martin Shkreli, "poster boy for grasping pharma greed," letters from two Senators and initiation of Congressional investigations."

https://en.wikipedia.org/wiki/Epinephrine_autoinjector
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Perfect example of runaway greed.

Those of you who condone this kind of shit need to have your sense of ethics checked.
 
ttystikk

ttystikk

Well-Known Member
SneekyNinja said:
Thanks ACA for forcing everyone to have insurance that the drug companies know will pay the inflated prices for their drugs!

Universal Healthcare we were promised, this bullshit is what we got.
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You're aggressively uneducated; you make absolutely no effort to learn anything about the situation or its causes, and then you expect to be taken seriously.

That's the very definition of moron.
 
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Fogdog

Fogdog

Well-Known Member
SneekyNinja said:
Thanks ACA for forcing everyone to have insurance that the drug companies know will pay the inflated prices for their drugs!

Universal Healthcare we were promised, this bullshit is what we got.
Click to expand...
Epipens are $100 each in Canada. Its my guess that they refused to pay the asking price and negotiated one that provided reasonable profits and reasonable pricing. Not so in the US.

This is the problem from letting insurance companies run the health care system. They don't argue prescription prices, they just pass costs on to consumers. Which is why ACA premiums or deductibles are so high. Its not because young people aren't signing up -- that's a factor but the real cause of high cost and poor outcomes in the US system is the overhead and conflict of interest caused by having an insurance company as the administrator of finances for the US health care system.

During the debates in '08 with McCain, Obama explicitly said that people who have health care insurance were not going to be forced to change health care provider or coverage plans under his health care initiative. He may have promised universal coverage early on, maybe he did, but by the end of the campaign, he was definitely not promising universal healthcare. I don't understand why the voters of this country hate the idea of universal coverage but politicians been shot down many times before, including the Clintons. Obama did what he could to advance socialized medicine and millions have access to healthcare coverage as a result of his efforts but this stop-gap ACA is not sufficient. Witness the Epipen pricing scam as evidence.
 
SneekyNinja

SneekyNinja

Well-Known Member
ttystikk said:
You're aggressively uneducated; you make absolutely no effort to learn anything about the situation or is causes, and then you expect to be taken seriously.

That's the very definition of moron.
Click to expand...
Bernie Sanders lost.

Obama signed us over to the health insurance companies.

These are facts, do you always deny facts?

Fogdog said:
Epipens are $100 each in Canada. Its my guess that they refused to pay the asking price and negotiated one that provided reasonable profits and reasonable pricing. Not so in the US.

This is the problem from letting insurance companies run the health care system. They don't argue prescription prices, they just pass costs on to consumers. Which is why ACA premiums or deductibles are so high. Its not because young people aren't signing up -- that's a factor but the real cause of high cost and poor outcomes in the US system is the overhead and conflict of interest caused by having an insurance company as the administrator of finances for the US health care system.

During the debates in '08 with McCain, Obama explicitly said that people who have health care insurance were not going to be forced to change health care provider or coverage plans under his health care initiative. He may have promised universal coverage early on, maybe he did, but by the end of the campaign, he was definitely not promising universal healthcare. I don't understand why the voters of this country hate the idea of universal coverage but politicians been shot down many times before, including the Clintons. Obama did what he could to advance socialized medicine and millions have access to healthcare coverage as a result of his efforts but this stop-gap ACA is not sufficient. Witness the Epipen pricing scam as evidence.
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Pretty much what I said, but more positive towards Obama.

Let's not bullshit, if Bush hadve been President when the ACA came in then Democrats would've literally shit their pants over it.
 
rkymtnman

rkymtnman

Well-Known Member
Fogdog said:
Epipens are $100 each in Canada.
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they were that price back in 07 too here. now they are 500% more expensive yet the cost to produce is teh same and mylan has no justifiable R&D expenses to jack the prices up as much as they did.

when insurance used to pay for $35 tylenols and $500 epipens, nobody notice or cared. only now that people have the high deductible plans or pay out of pocket are they starting to notice these inflated prices. our whole healthcare system is broken from top to bottom. ACA is first step towards universal healthcare which as Americans we deserve.
 
Fogdog

Fogdog

Well-Known Member
SneekyNinja said:
Bernie Sanders lost.

Obama signed us over to the health insurance companies.

These are facts, do you always deny facts?


Pretty much what I said, but more positive towards Obama.

Let's not bullshit, if Bush hadve been President when the ACA came in then Democrats would've literally shit their pants over it.
Click to expand...
Bush passing ACA legislation? Where did you come up with this idea? Bush would never have pushed the ACA legislation through. He would have vetoed it if the bill had crossed his desk.
 
Fogdog

Fogdog

Well-Known Member
SneekyNinja said:
Bernie Sanders lost.


Pretty much what I said, but more positive towards Obama.
Click to expand...
You said a few things, some of which we agree upon. What you said that I was refuting (because you had it wrong) was this bit:

SneekyNinja said:
Universal Healthcare we were promised
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Obama did not campaign on the promise of universal healthcare. What he managed to get through Congress in the two year window that he had to work with a democratically controlled congress was the ACA. The ACA is insufficient and has problems but it was lightyears better for the tens of millions that were shut out of healthcare coverage during the Bush years.

Bush with the GOP congress never considered changing the system to subsidize people with pre-existing conditions or low income.
 
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