Instant karma smite: CEO who jacked up cost of EpiPens hospitalized by bee stin

[JEEP]

Well, you really have to appreciate an article submitted by God who also has His own website: godlordabove.com ;)

© God
Karma is a biatch if you are one

Mylan CEO Heather Bresch was hospitalized earlier today after being attacked by a swarm of bees.

Bresch was walking through a park during her lunch hour when the bee attack occurred. A large crowd of people formed to watch as she tried to run from the swarm.

"She must have gotten stung like 100 times, mostly on her face," said one shocked onlooker, who asked to remain anonymous. "Her face was puffed up all huge, she kinda looked like a muppet."

Bresch, who is apparently allergic to bee stings, immediately suffered a severe anaphylactic reaction. However, none of the bystanders had an EpiPen on hand to inject Bresch with relief.

"Didn't she raise the price to 600 bucks? Nobody got money for that," said one Robert Selvidge, a bystander on the scene. "She kept pointing at her bag for some reason, who knows why? Was there something in there she needed? Maybe she had an Epipen in there. Whatever. If you ask me she got what she deserves."

In previous years, Mylan CEO Heather Bresch raised the price of the life saving EpiPen by over 400% to $600. She also gave herself a pay increase of 600%. She is due to be paid $18.9 million in 2016.

Bresch is currently listed in critical condition in the intensive care unit at Mercy Hospital. Shares of Mylan were up more than 7 percent in trading Friday as news of Bresch's troubles spread.

Shares up 7 percent after falling 12.4 percent?

EpiPen maker’s stock value drops nearly $3 billion in 5 days as investors panic
August 25, 2016

Mylan Pharmaceuticals — the company behind the price gouging of the EpiPen — is experiencing serious karmic retribution in the stock market.

In just five days, Mylan’s stock has tanked by 12.4 percent as outrage over its astronomical price increases of the life-saving EpiPen has reached a boiling point. Mylan’s stock price went from a high of $49.20 per share on August 19 to $43.11 on August 24, according to MarketWatch:

As the chart below from YCharts shows, Mylan’s market cap has been in virtual freefall since last Friday, falling by almost $3 billion. This crash coincides almost directly with the news of EpiPen’s price hike spreading nationally and attracting almost universal scorn, even from the likes of “Pharma Bro” Martin Shkreli, who famously hiked the price of AIDS treatment pill Daraprim last year.

As the chart below from YCharts shows, Mylan’s market cap has been in virtual freefall since last Friday, falling by almost $3 billion. This crash coincides almost directly with the news of EpiPen’s price hike spreading nationally and attracting almost universal scorn, even from the likes of “Pharma Bro” Martin Shkreli, who famously hiked the price of AIDS treatment pill Daraprim last year.

The EpiPen is a life-saving device commonly used by those with food allergies susceptible to anaphylaxis. Should someone accidentally ingest food that prompts a potentially fatal allergic reaction, like peanuts or shellfish, the EpiPen provides an emergency dose of epinephrine into the person’s bloodstream, immediately alleviating anaphylactic shock. Sheldon Kaplan, who invented the EpiPen, designed it on behalf of the U.S. Department of Defense to provide an easily deliverable antidote to nerve gas. The company he was working for eventually released it for public use several years later.

However, in 2007, Mylan Pharmaceuticals acquired the rights to the EpiPen and immediately started raising the price. After Heather Bresch, its former top lobbyist, successfully pushed for legislation in Congress that required all public schools to carry EpiPens for children with food allergies, its price hikes became more frequent and more severe, raising by at least 10 percent every other quarter from the fourth quarter of 2013 to the second quarter of 2016. A score of U.S. Senators are calling for an investigation into the price hikes.

[SEE: Mylan lobbied to make EpiPen mandatory in schools - then moved overseas to avoid taxes
http://usuncut.com/news/mylan-lobbied-epipen-mandatory-moved-overseas/ ]

Bresch, who is the daughter of U.S. Senator Joe Manchin (D-W.Va), eventually became Mylan’s CEO, and subsequently raised her own salary by 671 percent. And in 2014, Bresch reincorporated Mylan in the Netherlands, utilizing a controversial accounting tactic known as “inversion,” lowering the company’s effective tax rate while still maintaining its headquarters and manufacturing base in the US.

As of this writing, Mylan’s stock shows no sign of recovery, and Heather Bresch has not yet responded to calls for a hearing before the U.S. Senate Judiciary Committee. A petition by The Other 98% calling on Mylan to lower the price of EpiPens has accumulated almost 63,000 signatures as of 11 PM Wednesday evening.

Hmm- this is the second time recently that my home state of West Virginia has been shown in a very ugly light. :(

BREAKING: EpiPen Maker Lowers Price by 50 Percent After Public Outcry

Mylan Pharmaceuticals, the company behind the price gouging of the EpiPen, has conceded to public pressure.

The company announced Thursday morning it would be lowering the price of its life-saving product by 50 percent by issuing a $300 savings card to customers who had been paying the full out-of-pocket cost. According to The Hill, Mylan also doubled the eligibility of its patient assistance program, which covers out-of-pocket costs for the uninsured and underinsured.

“We have been a long-term, committed partner to the allergy community and are taking immediate action to help ensure that everyone who needs an EpiPen Auto-Injector gets one,” Mylan CEO Heather Bresch said in a public statement.

The announcement of the price drop comes on the heels of a week of public outrage surrounding the price hikes of the life-saving medical device, which is designed to easily deliver an emergency dose of epinephrine to anyone suffering a potentially fatal allergic reaction. But according to Bloomberg, EpiPens only contain $1 worth of medicine despite a package of two still costing approximately $300 after the savings card is applied.

Bresch, the daughter of U.S. Senator Joe Manchin (D-W.Va), was Mylan’s chief lobbyist before becoming CEO. After Mylan cornered the rights to the EpiPen in 2007, it promptly raised prices by 5 percent for the following two years. In 2009, it raised the price of EpiPens by 19 percent. Additional 10 percent price hikes were implemented every year in 2010, 2011, 2012, and 2013. After successfully pushing for legislation requiring all public schools to carry emergency epinephrine devies, Mylan jacked up the price by 15 percent every other quarter from the end of 2013 to the second quarter of 2016.

As EpiPen prices soared by 461 percent between 2007 and 2015, Heather Bresch’s salary jumped significantly as well, going up from $2,453,456 in 2007 to $18,931,068 in 2015 — a 671 percent raise. Other top executives at Mylan also enjoyed astronomical raises as a result of the EpiPen’s price increases. Its stock price tripled over the same period of time, going from $13.29 per share in 2007 to as much as $49.20 per share. However, as US Uncut previously reported, Mylan’s stock has been plummeting due to the PR crisis stemming from the EpiPen price gouging.

A petition circulated by The Other 98% calling on Mylan to lower the price of EpiPens has garnered nearly 85,000 signatures as of this writing.

Whoops - Mylan only appeared to lower the EpiPen price!

EpiPen did not actually lower their price — it’s just another Pharma scam

Mylan Pharmaceuticals is now running a slick PR campaign to try and convince Americans they lowered the price of the EpiPen. Don’t buy it.

On Thursday morning, it was widely reported that Mylan responded to consumer outrage by lowering the price of the drug by 50 percent. While that may be true on the surface, the company didn’t actually change the price at all. The drug company’s rollout of EpiPen price cuts only applies to uninsured and underinsured consumers, who are given a $300 savings card while still having to pay roughly $300 more for a package of two EpiPens. However, the market price of the EpiPen remains the same.

As The Raw Story reported earlier, the EpiPen, which cost $94 in 2008, skyrocketed to over $600 since Mylan acquired the rights to the medical device used to treat life-threatening allergic reactions. However, the device only contains $1 worth of epinephrine, and the product itself hasn’t changed over the years despite Mylan jacking up the price by almost 500 percent over nine years.

The sleight of hand Mylan is pulling is almost identical to what “Pharma Bro” Martin Shkreli did earlier this year. In the wake of public outrage as a result of his decision to hike the price of the AIDS treatment drug Daraprim by approximately 5000 percent, Shkreli announced that the drug’s price would be cut in half, though only through a discount program offered to hospitals. This meant that his former company, Turing Pharmaceuticals, would keep its profit margins high, but cut the price for a small segment of customers.

In a CNBC interview Thursday morning, Mylan CEO Heather Bresch, daughter of U.S. Senator Joe Manchin (D-W.Va), defended the price hike, saying “No one is more frustrated than I am.” She later dodged a question about hiking her own salary by 671 percent while her company increased the price of EpiPens by 471 percent.

A viral petition calling on Mylan to lower the price of the EpiPen has garnered over 100,000 signatures as of this writing.

And then there's this: