Mylan CEO's 671% Pay Raise Under Scrutiny After EpiPen Price Hike
- 8 years ago
The controversy over EpiPens is growing as information about the executives that oversee the product is released.
The controversy over EpiPens is growing as information about the executives that oversee the product is released, reports Forbes.
EpiPen is a device which can inject potentially life-saving epinephrine into a person suffering from a severe allergic reaction.
Reports about a problem began during the back-to-school season as some parents struggled to afford the product because prices had risen dramatically.
According to NBC News, in 2007, the EpiPen cost $56.64 for wholesale on average, and in 2015, that amount surged to $317.82.
Now, attention has turned to Mylan, the pharmaceutical company which purchased the rights to the device in 2007 and currently collects about 40 percent of its operating profits from it.
NBC News reports that Heather Bresch, the firm’s CEO, has had her salary increase by 671 percent, from $2,453,456 in 2007 to $18,931,068 in 2015.
The U.S. Senate Judiciary Committee is reportedly investigating the matter, asking Bresch to provide an explanation for the EpiPen’s price hike.
The controversy over EpiPens is growing as information about the executives that oversee the product is released, reports Forbes.
EpiPen is a device which can inject potentially life-saving epinephrine into a person suffering from a severe allergic reaction.
Reports about a problem began during the back-to-school season as some parents struggled to afford the product because prices had risen dramatically.
According to NBC News, in 2007, the EpiPen cost $56.64 for wholesale on average, and in 2015, that amount surged to $317.82.
Now, attention has turned to Mylan, the pharmaceutical company which purchased the rights to the device in 2007 and currently collects about 40 percent of its operating profits from it.
NBC News reports that Heather Bresch, the firm’s CEO, has had her salary increase by 671 percent, from $2,453,456 in 2007 to $18,931,068 in 2015.
The U.S. Senate Judiciary Committee is reportedly investigating the matter, asking Bresch to provide an explanation for the EpiPen’s price hike.