Wednesday, September 21, 2016

PROFITS AND POWER BEFORE HEALTHCARE IS FAIR?

Raising prices on healthcare products to enrich executives and stockholders takes priority over the well being of those in need; and there's nothing anyone can do about it.


Mylan CEO Heather Bresch delivered a defiant performance before a group of hostile lawmakers upset over the company's EpiPen's price hike, as she called the current $600 price tag "fair."

Bresch refused to apologize before the House Oversight and Government Reform Committee Wednesday for raising the price by more than 400 percent since the generic drug maker acquired the allergy treatment in 2007. She said in her opening statement that Mylan regrets not anticipating the magnitude of a "growing minority of patients who may have ended up paying the full [wholesale acquisition cost] price and more."

However, Bresch stood by the company's decision to charge $600.

"We believe it was a fair price and we just now lowered that price by half," Bresch said in response to a question from Rep. Scott DesJarlais, R-Tenn., on whether Mylan was charging too much. She was referring to a new $300 generic version Mylan has offered.


Mylan CEO believes EpiPen price 'fair' | Washington Examiner