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EpiPen's Astronomical Price Increase Caused By Clinton-Supporter's Daughter

- August 24, 2016

TODAY, CLINTON SAID THAT MYLAN'S INCREASE OF THE PRICE OF EPIPENS IS "OUTRAGEOUS"

Today, Hillary Clinton Put Out A Statement Saying That Mylan Pharmaceuticals' Actions To Increase The Price Of EpiPens By Over 400 Percent Both "Increases Out-Of-Pocket Costs" And "Contributed To Higher Premiums." "Over the last several years, Mylan Pharmaceuticals has increased the price of EpiPens by more than 400%. They're now charging up to $600 for a two-EpiPen set that must be replaced every 12-18 months. This both increases out-of-pocket costs for families and first responders, and contributes to higher premiums for all Americans and their employers." ("Hillary Clinton Statement on EpiPen Pricing," The Briefing, 8/24/16)

Clinton: "That's Outrageous - And It's Just The Latest Troubling Example Of A Company Taking Advantage Of Its Consumers." "That's outrageous - and it's just the latest troubling example of a company taking advantage of its consumers. I believe that our pharmaceutical and biotech industries can be an incredible source of American innovation, giving us revolutionary treatments for debilitating diseases." ("Hillary Clinton Statement on EpiPen Pricing," The Briefing, 8/24/16)

EPIPEN'S OVER 400 PERCENT PRICE INCREASE HAS BEEN LINKED TO MYLAN PHARMACEUTICAL'S "NEAR-MONOPOLY" ON THE PRODUCT

According To STAT News' Ike Swetlitz, "Adjusting For Inflation, That Price [Of EpiPens] Has Risen 450 Percent Since 2004." "Pharmaceutical prices are difficult to quantify, but one useful metric is the 'wholesale acquisition cost,' which measures how much the manufacturer -- in this case, Mylan -- sells the drug to wholesalers [for]. Adjusting for inflation, that price has risen 450 percent since 2004. EpiPens are only available in two-packs, and each pack lists for about $600." (Chris Cillizza, "The Price Of EpiPens Has Gone Up 450 Percent Since 2004. That's Ridiculous." The Washington Post , 8/22/16)

Swetlitz: "Some Blame The Price Increase On Mylan's Near-Monopoly In The Epinephrine Auto-Injector Market." "Some blame the price increase on Mylan's near-monopoly in the epinephrine auto-injector market -- in 2015, EpiPens made up over 87 percent of all epinephrine auto-injectors prescribed in the US, according to data from IMS Health. Mylan itself is tight-lipped about the cost increase, saying only that it "has changed over time to better reflect the multiple, important product features and the value the product provides." (Chris Cillizza, "The Price Of EpiPens Has Gone Up 450 Percent Since 2004. That's Ridiculous." The Washington Post , 8/22/16)

Swetlitz: "Some Patients Are Seeing This $600 Price At The Register. But The Price Isn't Nearly As High In Other Countries." "Some patients are seeing this $600 price at the register. But the price isn't nearly as high in other countries. One woman told me she purchased EpiPens from an online Canadian pharmacy for half the cost in the US." (Chris Cillizza, "The Price Of EpiPens Has Gone Up 450 Percent Since 2004. That's Ridiculous." The Washington Post , 8/22/16)

Mylan Pharmaceuticals HAS CONTRIBUTED SIGNIFICANT AMOUNTS OF MONEY TO THE CLINTON FOUNDATION and is rUn by clinton-supporter joe manchin's daughter

The Clinton Foundation Has Received Up To $250,000 From Mylan

Mylan Has Contributed Up To $250,000 To The Clinton Foundation. (Clinton Foundation, Accessed 8/24/16)

Manchin Has Endorsed Clinton And Is One Of Her More Avid Supporters

Joe Manchin's Daughter Heather Bresch Is the CEO Of Mylan "The West Virginia Democrat's daughter, Heather Bresch, is chief executive of the company, which appears to have hiked the price of the epinephrine auto-injector by 400 percent since 2007." (Catherine Ho, "CEO At Center Of EpiPen Price Hike Controversy Is Sen. Joe Manchin's Daughter," The Washington Post , 8/24/16)

Manchin Endorsed Clinton Early In The 2016 Presidential Campaign. "Early in the 2016 presidential campaign, Manchin is endorsing Hillary Clinton, a Democrat." (Shauna Johnson, "Manchin Endorses Hillary Clinton As He Looks Ahead To Next White House Occupant," West Virginia MetroNews , 4/20/15)

Following Clinton's "We're Going To Put A Lot Of Coal Miners And Coal Companies Out Of Business" Claim, Manchin Continued To Support Clinton. "Here in West Virginia she lost every county to Bernie Sanders, but what sealed her fate in the Mountain State was that now famous line 'We're going to put a lot of coal miners and coal companies out of business.' The line angered U.S. Senator Joe Manchin, but he hasn't backed down from his support of Clinton." (Chris Lawrence, "Manchin Doesn't Waiver On Support Of Hillary," West Virginia MetroNews, 5/20/16)

  • Even While "Drawing Heat" For His Support, Manchin's Loyalty To Clinton Did Not Waiver. "Still, Manchin is drawing heat for continuing to back Clinton. But for Manchin, the last Democrat in West Virginia's congressional delegation, there was really no alternative." (Chris Lawrence, "Manchin Doesn't Waiver On Support Of Hillary," West Virginia MetroNews, 5/20/16)

Manchin Has Received $60,750 From Mylan's PAC And Employees

Manchin Received $60,750 From Mylan Employees And The Mylan PAC For His Campaigns Between 2011 And 2016. "Mylan employees and the company's PAC contributed a total of $60,750 to Manchin between 2011 and 2016, according to the Center for Responsive Politics." (Catherine Ho, "CEO At Center Of EpiPen Price Hike Controversy Is Sen. Joe Manchin's Daughter," The Washington Post , 8/24/16)

HEATHER BRESCH's Rise Has Correlated With The Increase In The Cost Of EpiPens

Since Heather Bresch Has Been In Leadership Positions At Mylan, The Price Of EpiPens Has Increased Astronomically

Joe Manchin's Daughter Heather Bresch Is The CEO Of Mylan, "Which Appears To Have Hiked The Price Of The Epinephrine Auto-Injector By 400 Percent Since 2007." "The West Virginia Democrat's daughter, Heather Bresch, is chief executive of the company, which appears to have hiked the price of the epinephrine auto-injector by 400 percent since 2007." (Catherine Ho, "CEO At Center Of EpiPen Price Hike Controversy Is Sen. Joe Manchin's Daughter," The Washington Post , 8/24/16)

  • "Heather Bresch's Career Has Risen Along With Her Father's." "Heather Bresch's career has risen along with her father's, a fact that has not gone unnoticed by her critics." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)
  • In 2002, Bresch Was Mylan's Head Lobbyist As The Director Of Government Relations. "Bresch rises through the ranks and gets her first major job, director of government relations for Mylan (read: head lobbyist)." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)
  • Between 2003 And 2007, Bresch Was Spokeswoman, Head Of Strategic Development, Head Of North American Operations, And Chief Integration Officer At Mylan. "Bresch enters the executive world of Mylan. She served as spokeswoman, head of strategic development, head of North American Operations and chief integration officer." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

Bresch Was Named Chief Operation Officer Of Mylan In 2007. "Bresch is named chief operating officer of Mylan, where she is in charge of integrating the company's $6.7 billion acquisition of German drugmaker Merck, one of the largest drugmakers in the world." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

  • "This Is The Same Year Mylan Bought The Rights To EpiPen." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)
  • After Acquiring The EpiPen, Mylan's Spending On Lobbying Went From $270,000 In 2007 To $1.2 Million In 2008. "After Mylan acquired EpiPen the company also amped up its lobbying efforts. In 2008, its reported spending on lobbying went from $270,000 to $1.2 million, according to opensecrets.org." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)

Bresch Was Named President Of Mylan In 2009. "Breach is named president of Mylan." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

  • Mylan Raised The Price Of The EpiPen 5 Percent In 2008 And 2009. "In 2008 and 2009, Mylan raised the price by 5 percent." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)
  • Mylan Raised The Price Of The EpiPen 19 Percent At The End Of 2009. "At the end of 2009 it tried out a 19 percent hike." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)
  • Between 2010 And 2013, Mylan "Saw A Succession Of 10 Percent Price Hikes" Of The EpiPen. "The years 2010-2013 saw a succession of 10 percent price hikes." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)

Bresch Was Named CEO Of Mylan In 2012. "Bresch becomes CEO of Mylan." (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

  • "From The Fourth Quarter Of 2013 To The Second Quarter Of 2016, Mylan Steadily Raised EpiPen Prices 15 Percent Every Other Quarter." "And from the fourth quarter of 2013 to the second quarter of 2016, Mylan steadily raised EpiPen prices 15 percent every other quarter." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)
  • The FDA Recommended That Two EpiPens Be Sold Per Pack Instead Of One And Suggested It Be Prescribed For At-Risk Patients, Enhancing Mylan's Bottom Line. "Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one and that they be prescribed for at-risk patients, not just those with confirmed allergies. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)

"Bresch Made Hundreds Of Visits To Capitol Hill To Get The Regulatory Reforms Passed." Barron's reports Bresch made hundreds of visits to Capitol Hill to get the regulatory reforms passed. 'All these senators were flabbergasted when they found out she was my daughter,' Manchin tells Barron's. 'Of course, John Dingell wanted to adopt her.'" (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

As EpiPen's Cost Increased By 461 Percent, Bresch's Compensation Increased 671 Percent In The Same Time Period

Bresch's Total Compensation Has Increased 671 Percent As EpiPen's Price Has Increased 461 Percent. "EpiPen prices aren't the only thing to jump at Mylan. Executive salaries have also seen a stratospheric uptick. Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase, according to data provided by Connecture." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)

"Critics Have Called Out The Company For Unusually High Executive Pay Packages, Questionable Use Of Company Jets, And Murky Relationships With Board Members." (Jen Wiczner, "Why Wall Street Loves To Hate Mylan's CEO," Fortune Magazine, 9/11/15)

UNDER BRESCH'S DIRECTION, MYLAN MOVED ITS HEADQUARTERS TO THE NETHERLANDS TO LOWER ITS TAX BILLS

Bresch Lead Mylan's Move To The Netherlands In 2014, Lowering Its Tax Bill Through Inversion. "This isn't the first time a business decision by Mylan has proved awkward for Manchin. In 2014, through a deal with Abbott Laboratories, the company was able to incorporate in the Netherlands - a move that let it lower its tax bill through what is known as an inversion." (Catherine Ho, "CEO At Center Of EpiPen Price Hike Controversy Is Sen. Joe Manchin's Daughter," The Washington Post , 8/24/16)

Bresch Was Kicked Off Of Fortune Magazine's 2015 List "For Headquartering Her Company In The Netherlands." "(But as Fortune Magazine notes, she was kicked off 2015's list after technically headquartering her company in the Netherlands, a practice her father said should be 'repealed.')" (Amber Phillips, "How A Senator's Daughter Became CEO Of The Company At The Center Of The EpiPen Controversy," The Washington Post , 8/24/16)

Bresch's Father Senator Joe Manchin Had Previously Denounced Inversions, "Though He Later Changed His Mind." "Mylan's inversion took place just as uproar over the tactic reached a fever pitch on Capitol Hill. (Among the politicians who denounced the move was Bresch's own father, though he later changed his mind.)" (Jen Wiczner, "Why Wall Street Loves To Hate Mylan's CEO," Fortune Magazine, 9/11/15)

BRESCH IS NO STRANGER TO CONTROVERSY, HAVING LIED ABOUT RECEIVING HER MBA

"A 2008 Inquiry Found Bresch Didn't Complete The Coursework For Her MBA Granted By West Virginia University." "A 2008 inquiry found Bresch didn't complete the coursework for her MBA granted by West Virginia University. The school had received a $20 million donation from Mylan chairman Milan Puskar in 2003. Several of the university administrators resigned in the aftermath, including president Mike Garrison. The former Mylan consultant and lobbyist had gone to high school with Bresch, the daughter of West Virginia Senator Joe Manchin, and was a longtime family friend." (Ben Popken, "Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices," NBC News, 8/23/16)

In The 2007 Announcement Of Bresch As Chief Operating Officer Of Mylan, It Is Stated That She Earned Her MBA From West Virginia University. "Ms. Bresch earned an MBA and an undergraduate degree in international studies and political science from West Virginia University." ("Mylan Appoints Heather Bresch As Chief Operating Officer," Mylan, Accessed 8/24/16)

  • "WVU Had Altered Her Transcripts And Awarded Her Degree Retroactively." "The October 2007 news release announcing Bresch's promotion declared that she had received an MBA from West Virginia University; by December, the Pittsburgh Post-Gazette reported that WVU had altered her transcripts and awarded her degree retroactively." (Jen Wiczner, "Why Wall Street Loves To Hate Mylan's CEO," Fortune Magazine, 9/11/15)

A Subsequent Investigation Stripped Bresch Of Her Degree, Finding That "Administrators Had Given Bresch Graded 'Pulled From Thin Air' Because Of Her 'High Profile.'" "A subsequent investigation by the school stripped Bresch of her degree. Its 95-page report concluded that administrators had given Bresch grades 'pulled from thin air' because of her 'high profile'-but it didn't directly fault either father or daughter." (Jen Wiczner, "Why Wall Street Loves To Hate Mylan's CEO," Fortune Magazine, 9/11/15)


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