Government Funds to Mylan Spiked After Manchin’s Daughter Became CEO

[rangerrebew]

 Government Funds to Mylan Spiked After Manchin’s Daughter Became CEO

Posted By Joe Schoffstall On August 26, 2016 @ 4:15 pm In Issues | No Comments

Government funds awarded to Mylan, Inc. increased dramatically after the daughter of Sen. Joe Manchin (D., W.Va.) took over as its chief executive officer.

The pharmaceutical company Mylan sparked controversy this week for hiking the price of its EpiPen, an autoinjector used to counter allergic reactions. The life-saving device was sold wholesale at $56.64 per unit in 2009. That price skyrocketed to $317.82 by 2015, an increase of 461 percent. Company executives increased their own salaries as the cost of the EpiPen rose.

Heather Bresch, Manchin’s daughter, served as president of Mylan between 2009 and 2011. She took over as the company’s chief executive officer in 2012.


Article printed from Washington Free Beacon: http://freebeacon.com

URL to article: http://freebeacon.com/issues/government-funds-mylan-spiked-sen-manchins-daughter-became-ceo/

[Henry Noel]

Interesting article about the rise of EpiPen through aggressive marketing and crony capitalism:


http://www.bloomberg.com/news/articles/2015-09-23/how-marketing-turned-the-epipen-into-a-billion-dollar-business

[rangerrebew]

Interesting article about the rise of EpiPen through aggressive marketing and crony capitalism:

Let us not forget greed!

[Henry Noel]

Let us not forget greed!

Greed is a given. But I can't conceive of anything in particular that has made human beings greedier now than they were, say, fifty years ago.

[dfwgator]

Greed is a given. But I can't conceive of anything in particular that has made human beings greedier now than they were, say, fifty years ago.

Now the government is aiding the greedy.

[Henry Noel]

Now the government is aiding the greedy.

That's where it becomes problematic.

[geronl]

When government hands out money, there will always be abuse - always. These government officials don't care if it is given away to frauds and cheats, they think the more they give away the better.

[r9etb]

Greed is a given. But I can't conceive of anything in particular that has made human beings greedier now than they were, say, fifty years ago.

As you say, greed is a given.  But if you look at now vs. then, you'll see that countervailing principles such as duty, responsibility, humility, and respectability have eroded significantly.

Greed has a much freer hand now, than it used to.