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Reviewing the Rising Price of Epipens Hearing Committee
REVIEWING THE RISING PRICE OF EPIPENS HEARING BEFORE THE COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM HOUSE OF REPRESENTATIVES ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION SEPTEMBER 21, 2016 Serial No. 114–124 Printed for the use of the Committee on Oversight and Government Reform ( Available via the World Wide Web: http://www.fdsys.gov http://www.house.gov/reform U.S. GOVERNMENT PUBLISHING OFFICE 24–914 PDF WASHINGTON : 2017 For sale by the Superintendent of Documents, U.S. Government Publishing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 09:42 Apr 12, 2017 Jkt 000000 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 H:\24914.TXT APRIL KING-6430 with DISTILLER COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM JASON CHAFFETZ, Utah, Chairman JOHN L. MICA, Florida ELIJAH E. CUMMINGS, Maryland, Ranking MICHAEL R. TURNER, Ohio Minority Member JOHN J. DUNCAN, JR., Tennessee CAROLYN B. MALONEY, New York JIM JORDAN, Ohio ELEANOR HOLMES NORTON, District of TIM WALBERG, Michigan Columbia JUSTIN AMASH, Michigan WM. LACY CLAY, Missouri PAUL A. GOSAR, Arizona STEPHEN F. LYNCH, Massachusetts SCOTT DESJARLAIS, Tennessee JIM COOPER, Tennessee TREY GOWDY, South Carolina GERALD E. CONNOLLY, Virginia BLAKE FARENTHOLD, Texas TAMMY DUCKWORTH, Illinois CYNTHIA M. LUMMIS, Wyoming ROBIN L. KELLY, Illinois THOMAS MASSIE, Kentucky BRENDA L. LAWRENCE, Michigan MARK MEADOWS, North Carolina TED LIEU, California RON DESANTIS, Florida BONNIE WATSON COLEMAN, New Jersey MICK MULVANEY, South Carolina STACEY E. PLASKETT, Virgin Islands KEN BUCK, Colorado MARK DESAULNIER, California MARK WALKER, North Carolina BRENDAN F. -
In West Virginia, Democrat Joe Manchin Is Tacking to the Right to Keep His Senate Seat in an Increasingly Red Page 1 of 3 State
USApp – American Politics and Policy Blog: In West Virginia, Democrat Joe Manchin is tacking to the right to keep his Senate seat in an increasingly red Page 1 of 3 state In West Virginia, Democrat Joe Manchin is tacking to the right to keep his Senate seat in an increasingly red state Incumbent Democratic Senator Joe Manchin is favored to beat out his Republican challenger, Patrick Morrisey in West Virginia Senate race on November 6th. But, writes Matthew Jacobsmeier, in a state which has swung towards the Republican Party in recent years, victory for the Democrat – even one as conservative as Manchin – is far from certain. This article is part of our blog series covering key 2018 US Senate races. Read the rest of our coverage. The series is published in tandem with the LSE US Centre’s public event, Making Sense of the Midterms on 7 November 2018. West Virginia Senator Joe Manchin is a fairly popular Democrat hoping to be reelected in an election contest being held during a Republican presidency plagued by consistently low approval ratings. An incumbent senator in such circumstances would typically be expected to secure an easy victory, especially given the well-documented tendency of the president’s party to lose seats in Congress in mid-term elections. Yet while a win over Republican challenger and West Virginia Attorney General Patrick Morrisey seems likely – forecasters at fivethirtyeight.com give Manchin an 87.8 percent chance of being reelected – a victory is by no means certain. Moreover, a Manchin loss would be devastating to Democrats’ hopes of regaining control of the US Senate. -
An Analysis of Mylan's Epipen Pricing Crisis
Corporate Governance and the Parable of the EpiPen: An analysis of Mylan’s EpiPen Pricing Crisis 2017 Arthur W. Page Society Case Study Competition Mariana Krampien & Kola Ogunshote Table of contents 1.0. | Overview Company History with EpiPen……………………………………………………………………………………….………………1 Mylan’s Mission, Vision and CSR Stance.……….……………………………………………………………….……………......2 Corporate Governance…………………………………………………………………………………………...…………….….....2 Corporate Reputation………………………………………………………………………………………....………….………...…4 2.0. | EpiPen Pricing Crisis A History of EpiPen Price Increases……………………………………………………………………………….……………......4 Family Ties……………………………………………………………………………………………………………………………...5 Recent Timeline of the EpiPen Crisis……………….………………………………...……………………………….…………….5 Governmental Response…………………………………………………………………………………………………………...…7 3.0. | Outtakes Mylan’s Social Media Response………………………………………………………………………………………….………….9 Public Response…………………………………………………………………………………………………………...…….….…9 DIY “EpiPencil” ...................................................................................................................................................................10 Class Action Lawsuits………………………………………………………………………………………………...………….…..10 4.0. | Outcomes Stock Market Reaction………………………………………………………………………………………...……………….…….11 Business and Social Impact………………………………………………………………………………...………………….……11 Corporate Governance and Reputational Impact………………………………………………………...……………….….…...12 5.0. | Conclusion Looking Ahead………………………………………………………………………………………….…………………………….14 References……………………………………………………………………………….……………………………………………16 -
An Allergic Reaction to Transparency
AnEpiPen Allergic Reaction to Transparency Abstract From 2011 to 2015, Mylan increased the price of EpiPen by 227%. In the wake of a price gouging crisis, Mylan, a pharmaceutical company, took many missteps in their communication strategy and implementation. The spokesperson selected to represent Mylan, Heather Bresch, may be the CEO, but proved to do more harm than good throughout the crisis. Despite many mistakes, Mylan continued to use Bresch as a face for the company and did not make any communication changes. From social media firestorms to Congressional hearings, Mylan and Mrs. Bresch failed to put consumer interests above corporate financial goals. This case is an example of how poor strategic communications management can lead to negative brand image and continuation of controversy. Table of Contents Overview 1 Operations and Locations 1 Mission Statement 2 Mylan’s History 2 Mylan Under Investigation 3 Heather Bresch 3 The Crisis 4 Legal Repercussions of the Crisis 5 Timeline 6-7 Public Response 8 General Public 8 Regulators 8 EpiPen Users 9 Healthcare Professionals 9 Traditional Media 10 Social Media 10 Impact on Financial and Business Performance 11 Conclusion 12 References 13 #Mylan Overview In August 2016, Bernie Sanders tweeted a NBC investigative news story about Mylan pharmaceuticals and the increasing prices of their epinephrine auto-injector device, EpiPen. Quickly, the issue gained vast attention from the public and lawmakers. The EpiPen is a lifesaving device millions of people depend on for emergency allergic reaction treatment. The device is also required by most state laws to be present in schools; laws that were lobbied and funded by Mylan. -
Epi(C) Pharmaceutical Market Failure
EPI(C) PHARMACEUTICAL MARKET FAILURE DAVID W. JOHNSON Market Corner Commentary for September 14, 2016 It was hard not to feel sorry for Mylan CEO Heather Bresch as she sat for an extended CNBC interview on the morning of August 25th. HEATHER BRESCH ON THE HOT SEAT I’m sure Bresch wondered what had created all the fuss. Mylan had pushed through 25+% annual EpiPen price increases for years with minimal public reaction. Mylan’s Clearly on the hot seat, Bresch tried to last EpiPen price increase had occurred in May. Now late-August, the proverbial explain Mylan’s stratospheric EpiPen crap was hitting the fan. price increases. Despite limited product improvement, the retail price for EpiPen Controversy built as parents purchased EpiPens for children heading back to school. 2-Pak®has skyrocketed from $94 in Their collective sticker shock went viral with predictable outcomes. Politicians 2007 when Mylan acquired the product expressed outrage. Hillary Clinton called the price hikes “Outrageous.” Bernie to $608 today, a 550% increase. Sanders posted the following on his Facebook page, Such unrestrained prices hikes are a clear example of market failure. Without competition, Mylan is free to charge what the market can bear. Regulatory The drug industry’s greed knows no bounds. There’s no reason an EpiPen, which costs Mylan just a few dollars to make, should cost families hundreds of dollars. barriers and opaque industry transfer The only explanation for Mylan raising the price by almost six times since 2008 pricing have created an untenable is that the company values profits more than the lives of millions of Americans. -
Mylan's Epi-Cal Breach at The
Journal of Business Cases and Applications Volume 18 Mylan’s Epi-cal breach at the top Melanie O. Anderson Slippery Rock University Diane D. Galbraith Slippery Rock University ABSTRACT The senior leadership of an organization establishes the corporate culture, core values and principles that guide the decision-making process of the business. The CEO and Board of Directors at a major US pharmaceutical company may have established a tone at the top through their actions that has encouraged the company to take several controversial, even unethical actions. This case will describe the CEO and individual board activities, and ask students to determine appropriate checks and balances the company may have taken in relation to these situations. Students will also evaluate how the company’s action or inaction to these challenges may have been influenced by the corporate culture. Students will be asked to weigh in on how the corporate culture and the leadership impacted the company’s recent actions related to the marketing of their EpiPen product, and the ultimate impact on their internal and external stakeholders. Finally, students will be queried if these epical events will transform this company. Keywords: Ethics, Leadership, Corporate Culture, Marketing Copyright statement: Authors retain the copyright to the manuscripts published in AABRI journals. Please see the AABRI Copyright Policy at http://www.aabri.com/copyright.html Mylan’s epical breach, Page 1 Journal of Business Cases and Applications Volume 18 INTRODUCTION The Tone at the Top is one of the most important controls available to an organization. If management sets a good example, employees will follow this lead. -
2019 GLOBAL SOCIAL RESPONSIBILITY REPORT OUR MISSION at Mylan, We Are Committed to Setting New Standards in Healthcare
A LEGACY OF 2019 GLOBAL SOCIAL RESPONSIBILITY REPORT OUR MISSION At Mylan, we are committed to setting new standards in healthcare. Working together around the world to provide 7 billion people access to high quality medicine, we innovate to satisfy unmet needs; make reliability and service excellence a habit; do what’s right, not what’s easy; and impact the future through passionate global leadership. 2 | Mylan Global Social Responsibility Report TABLE OF CONTENTS SECTION I: INTRODUCTION ........................................4 SECTION II: OUR AREAS OF IMPACT ..........................12 Patients ...................................................13 Employees ...............................................25 Environment .............................................34 Global Public Health .................................38 Community ..............................................46 SECTION III: GSR MANAGEMENT DISCLOSURE & PERFORMANCE DATA ...............................................52 Introduction .............................................53 Patient Health .........................................55 Employee Health .....................................66 Environmental Health ...............................71 GSR Oversight and Ethics Compliance ....76 SECTION IV: APPENDIX ...............................................83 SECTION V: GRI & SASB TABLES ................................88 The I-Icon throughout this report indicates there is additional information READ MORE for a topic in section III of this report. Section III provides -
Most Overpaid Ceos of the S&P 500: Are Fund Managers Asleep at the Wheel?” That Rosanna Landis Weaver Has Written for As You Sow
Published February 2021 THE100 MO ST OVER PAID CE Os Are Fund Managers Asleep at the Wheel? AUTHOR Rosanna Landis Weaver, Executive Compensation Program Manager, As You Sow® This is the seventh annual report of “The 100 Most Overpaid CEOs of the S&P 500: Are Fund Managers Asleep at the Wheel?” that Rosanna Landis Weaver has written for As You Sow . Weaver began her corporate governance career with a position in the corporate affairs office at the International Brotherhood of Teamsters in 1992, supervising research on corporate governance. In 1999, she joined the Investor Responsibility Research Center (IRRC), where she wrote reports on compensation-related shareholder proposals and golden parachutes. At Institutional Shareholder Services (ISS), which she joined in 2005, she was a senior analyst on the executive compensation team, with a particular focus on change of control agreements, and analyzed Say on Pay resolutions. From 2010 to 2012, she was the governance initiatives coordinator at Change to Win. Weaver holds a bachelor’s degree in English from Goshen College and a master’s in American Studies from the University of Notre Dame. Throughout the spring, as proxies are filed, Weaver provides updates and compensation analysis on her blog, which can be found at https://www.asyousow.org/our-work/ceo-pay/blog/ . You can sign up for emails that summarize these blog posts during proxy season at https://go.asyousow.org/ceo-pay-alerts . ACKNOWLEDGEMENTS This report was made possible by the generous support of the Stephen M. Silberstein Foundation. Additional support was provided by the Argosy Foundation, Arkay Foundation, Arntz Family Foundation, Firedoll Foundation, Fred Gellert Family Foundation, Hanley Foundation, Manaaki Foundation, Roddenberry Family Foundation, Singing Field Foundation, and Thornton Foundation.