Mylan exec Senator's Daughter

[aris2chat]

Mylan chief executive Heather Bresch is the daughter of Sen. Joe Manchin III (D-W.Va.).

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Mylan uses tax inversions to avoid paying U.S. taxes
She courted controversy once again when she decided to merge Mylan with a Netherlands company in order to move its legal corporate headquarters overseas. This helps the firm avoid the 39 percent corporate taxes in the U.S. This tactic has been denounced by various members of congress – including Bresch’s own father – for hurting the American economy.

More than 650 percent pay raise
Of course, Bresch herself would have no trouble paying the new price for the EpiPen. Her total compensation jumped from $2.4 million in 2007, to $18.9 million in 2015, which is an increase of 671 percent. She wears designer high heels, and is one of the rare executives who is still allowed to use company aircraft for personal business. In fact, the Pittsburgh Post-Gazette reported earlier this year that her corporate jet use had already reached $310,312 for a mixture of business and personal trips.

Bresch was also behind the expansion of Mylan’s Washington, D.C., lobbying efforts, which has helped them gain legislation that favors their interests, including a 2010 FDA recommendation that EpiPens be packaged in pairs.<<

 

[WaitingFor2020]

Mylan chief executive Heather Bresch is the daughter of Sen. Joe Manchin III (D-W.Va.).

>>
Mylan uses tax inversions to avoid paying U.S. taxes
She courted controversy once again when she decided to merge Mylan with a Netherlands company in order to move its legal corporate headquarters overseas. This helps the firm avoid the 39 percent corporate taxes in the U.S. This tactic has been denounced by various members of congress – including Bresch’s own father – for hurting the American economy.

More than 650 percent pay raise
Of course, Bresch herself would have no trouble paying the new price for the EpiPen. Her total compensation jumped from $2.4 million in 2007, to $18.9 million in 2015, which is an increase of 671 percent. She wears designer high heels, and is one of the rare executives who is still allowed to use company aircraft for personal business. In fact, the Pittsburgh Post-Gazette reported earlier this year that her corporate jet use had already reached $310,312 for a mixture of business and personal trips.

Bresch was also behind the expansion of Mylan’s Washington, D.C., lobbying efforts, which has helped them gain legislation that favors their interests, including a 2010 FDA recommendation that EpiPens be packaged in pairs.<<

Mrs. Bresch is a disgrace. She's a DINO.

 

[waltky]

Mylan being investigated for price fixing...

Federal prosecutors accuse execs of fixing drug prices
December 14, 2016 | WASHINGTON (AP) — Federal prosecutors have charged two former pharmaceutical executives with fixing prices of generic drugs, part of an ongoing government investigation into anticompetitive tactics by companies that make lower-cost drugs intended to reduce medication costs.

The Department of Justice accused two former Heritage Pharmaceuticals executives of conspiring to fix prices, rig bids and avoid competing with other drugmakers in marketing two generic drugs. The charges against Jeffrey Glazer, former CEO of Heritage, and Jason Malek, former president with the company, were unsealed Wednesday in Philadelphia. Prosecutors allege that the executives worked to fix prices on an antibiotic and a diabetes medication between April 2013 and December 2015, according to the filing. Malek and Glazer were charged via a criminal information, which is a charging document that is filed with the defendant's consent and typically signals an intent to plead guilty

Heritage said in a statement that it terminated the executives in August 2016 after conducting its own internal investigation. "We are fully cooperating with all aspects of the Department of Justice's continuing investigation," a company spokesman said in an emailed statement. The Eatontown, New Jersey-based company filed its own civil complaint against the executives last month alleging that "Glazer and Malek looted tens of millions of dollars from Heritage by misappropriating its business opportunities, fraudulently obtaining compensation for themselves and embezzling its intellectual property." The lawyer representing Malek in that case said he could not comment when reached Wednesday afternoon. The lawyer representing Glazer did not immediately respond to a request for comment.

Generic drugs account for 90 percent of all prescriptions dispensed in the U.S., according to the latest figures from QuintilesIMS, a pharmaceutical analytics company. The drugs are generally priced between 30 percent and 80 percent less than brand-name drugs and are pivotal to reducing prescription costs for patients, employers and health care providers. Unlike most other nations, the U.S. government does not regulate drug prices. "Conspiring to fix prices on widely-used generic medications skews the market, flouts common decency — and very clearly breaks the law," said Michael Harpster, special agent in the FBI's Philadelphia Division, in a statement. Several generic drug companies have previously publicly reported receiving subpoenas from the Justice Department in connection with the probe into drug pricing, including Mylan NV and Lannett Co.

Drug costs remain a leading concern for U.S. consumers, triggering multiple congressional investigations and pledges to address prices from politicians including President-elect Donald Trump and Senator Bernie Sanders, I-Vt. "Pharmaceutical executives must be held accountable for ripping off the American people by charging them the highest prices in the world for prescription drugs," said Sanders, in a statement responding to Wednesday's news. Last month Sanders and Rep. Elijah Cummings, D-Md. called on the Department of Justice to investigate possible price collusion among manufacturers of the diabetes staple insulin, which they say has seen industrywide price increases of more than 300 percent between 2002 and 2013.

Federal prosecutors accuse execs of fixing drug prices