The Centers for Medicare & Medicaid Services said this week that Mylan Pharmaceuticals (NSDQ:MYL) has been overcharging Medicaid for its EpiPen auto-injector for years, despite being warned that it should have paid bigger rebates. CMS said that between 2011 and 2015, Medicaid spent $797 million on the epinephrine auto-injector after deducting rebates, marking the 1st […]
Auto-injectors
Committee pens letter to Mylan demanding EpiPen price info
Members of the U.S. House Committee on Oversight & Government Reform penned a letter to Mylan (NSDQ:MYL) demanding a more complete look at the pricing of its EpiPen epinephrine auto-injector. At a Sept. 21 congressional hearing, Mylan CEO Heather Bresch testified that the company makes a $100 profit per 2-pack of EpiPens. Last week, Mylan […]
Analyst: Insulet’s drug-delivery biz a long-term growth driver
Insulet’s (NSDQ:PODD) drug-delivery business will be a long-term growth driver for the company by as much as 20% a year for the next few years, according to Leerink Partners analysts. Billerica, Mass.-based Insulet generates 86% of its revenue from its OmniPod insulin delivery device, according to Leerink. The OmniPod technology could be easily adapted to […]
Mylan clarifies $104 profit on $600 EpiPens
Mylan (NSDQ:MYL) acknowledged that the $104 profit it reported to Congress included taxes, after the Wall Street Journal reported that the company applied the statutory U.S. tax rate of 37.5% to calculate its profits for testimony before the Senate, according to Reuters. “Without the tax-related reduction, Mylan’s profits on the EpiPen 2-pack would be closer […]
Parents question Mylan’s EpiPen school campaign
Three years ago, Mylan (NSDQ:MYL) began holding summits for food allergy bloggers to learn about its campaign to get its EpiPen epinephrine injector into schools. Many of the bloggers, mothers of children with serious allergies, were eager to help. Some, including Ruth LovettSmith, wrote thousands of posts, providing testimony that some legislators say convinced them […]