When Mylan CEO Heather Bresch testified before the House Committee on Oversight and Government Reform that each twin pack of EpiPens nets the company only $100 of its $600 list price, she got a skeptical response. Now the House is demanding details about the company's tax rate.
Mylan CEO Heather Bresch claimed last week that EpiPen profits are just $100 for each package of two pens. Now, the company admits that, pretax, those profits were $166 per package--a difference of 66%.
Mylan CEO Heather Bresch will tell congressional critics Wednesday that she “never expected” to face questions about EpiPen prices. But as the public outcry shows, those expectations were way off--and she'll face questions aplenty at today's hearing on Capitol Hill.
The EpiPen drama is moving into a congressional hearing room. Mylan CEO Heather Bresch is on the docket to testify next Wednesday for the House Committee on Oversight and Government Reform, where she’ll face questions about her company’s price hikes on the lifesaving epinephrine injector.
If Mylan was hoping that its new EpiPen copay assistance and authorized generic would stave off government probing, then it’s hoping in vain. Another congressional committee wants CEO Heather Bresch to account for her company’s actions.