From the midweek edition of the Morning Jolt:
When Those Health Industry Villains Are Just Part of the Family
For once, the Democratic complaints about greedy health care company executives don’t seem exaggerated…
The pharmaceutical CEO whose company raised the price of EpiPens by more than 400% was rewarded with a 671% raise.
Heather Bresch and other executives at Mylan Pharmaceuticals have been criticized for increasing the price of the devices to prevent fatal allergy reactions from less than $100 for a pair in 2007 to more than $500 today.
Bresch, who was president in 2007 and has since become chief executive of the global pharma giant, went from making $2,453,456 nine years ago to $18,931,068 last year, according to filings from the company.
The pay increase, first reported by NBC News, came as Mylan repeatedly raised the price of the live-saving epinephrine device by increments of 5, 10 and 15%.
Wait, there’s more; the Los Angeles Times contends, “Mylan is one of the leading exploiters of the technique known as inversion, in which a U.S. company cuts its tax bill by acquiring a foreign firm and moving its tax domicile to the acquired company’s homeland.”
Looks like we have a living, breathing embodiment of the callous corporate greed that the Democrats have denounced for years! Where did this Heather Bresch character learn how to exploit people’s vulnerabilities and squeeze every last penny out of desperate people?
Alex Burns of the New York Times reminds us that Heather Bresch was formerly Heather Manchin… as in, she’s the daughter of Sen. Joe Manchin, a Democrat and former two-term governor of West Virginia. If the Senate Commerce Committee holds hearings about Bresch and the price hikes, the Democratic denunciations of her could get really awkward.






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