Mylan CEO Heather Bresch: 'No One's More Frustrated Than Me' About EpiPen Price Outrage
I imagine Heather Bresch is frustrated right now. She's seen their stock price plunge 12% in the past few weeks since this controversy blew up in their faces. Bresch does a woeful job at damage control in this interview, the full length of which was nearly twenty minutes. Bresch could not adequately explain why her EpiPens which retail for $600 per set in the United States only cost about $100 in Canada and the UK, although she blamed the health-care system. That's about a 600% increase since Mylan took over the manufacture and distribution in 2009. And oddly enough, Bresch also stumbled when asked about her own 671% increase in salary over those years, from about $2.4m to $18.6m today.
Source: CNBC
Mylan CEO Heather Bresch struggled Thursday to justify the repeated big price hikes of the company's lifesaving EpiPen devices as criticism continued that Mylan is gouging consumers with a retail cost of more than $600.
"No one's more frustrated than me," Bresch told CNBC's "Squawk Box" on Thursday when she was pressed on the question of why Mylan needed to have such a high price for EpiPens, and why she just didn't cut their price.