Mylan Pharmaceuticals–currently the target of public and congressional ire over its hefty price increases for the EpiPen–had the second-highest executive compensation among all US drug and biotech firms during the past five years, according to a Wall Street Journal analysis.
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Witnesses for the hearing, which start September 21, will include Mylan chief executive Heather Bresch, the daughter of Sen. Joe Manchin of West Virginia.
Heather Bresch, Mylan’s CEO, has defended the price increases, saying the company is a for-profit enterprise, and blaming high patient costs in part on insurers and drug-benefit managers. “We look forward to receiving answers next week from Mylan about its dramatic price hike for this life-saving medication”. Food and Drug Administration, also is scheduled to testify as legislators have questioned the agency about delays in approving a generic version of the pen.
Mylan spokeswoman Nina Devlin confirmed that Bresch will attend the hearing.
Democrats have generally also called for broader changes, like allowing Medicare to negotiate drug prices or putting new requirements on drug companies.
Although the product’s more than 400% price increase had been made incrementally since 2007, raising the price for a two-pack from $100 to $608, consumers finally revolted this year through an epic social media campaign that has resulted in a national news scandal and scrutiny from federal officials.
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A probe into EpiPen pricing by a U.S. Senate subcommittee was announced on September 7.
