Last year, talks heated up in regards to the move by lMylan Br (NASDAQ:MYL) to go ahead and jack up the price of two EpiPen injectors from $100 to $608 after it bought the high end drug back in 2007.
What followed was the summoning of the company’s CEO, Heather Bresch, who at the same time happens to be the daughter of West Virginia Senator Joe Manchinto to Capitol Hill where she was made to testify to the congress.
So much has been happening in the recent times and it is also important to along similar lines point out to the fact that in the month of October the provider was reportedly accused of overcharging the government for EpiPen and the hullabaloo around the matter isn’t about to end to this particular moment.
Mylan through one of its spokeswomen went ahead to clear the air around the matter and its decision to move ahead and agree to a $465 million settlement with the Department of Justice (DOJ) in regards to the matter has been met with mixed reactions with a large number of people questioning the company’s level of integrity.
Moving by the various terms and conditions in relation to the matter, it indeed goes without saying that indeed Mylan was not by any chance going to admit to any sort f wrongdoing for the act of classifying its drug as a generic rather than a branded medication.
The main issue in regards to this particular matter lies in the fact that no one seemed to really like the deal. As a matter of fact, most of them did not believe it actually existed considering that DOJ had declined to confirm the various terms Mylan had stipulated. One thing that is worth mentioning is that both Grassley and Warren have over sometime now been making a lot of noise in an effort to try and get to the bottom of the matter.
Grassley had meditated sending Mylan as well as the DOJ subpoenas in an effort to spark talk in relation to the matter, but thing didn’t just work out as planned.