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September 28, 2016

WSJ: Mylan Misrepresented Profit Figures of EpiPen to Congress
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In more financial news, Mylan, the maker of the life-saving allergy shot
Epi Pen, is again under fire, this time for reportedly lying to
Congress. Last week, Mylan CEO Heather Bresch told a congressional
committee the profit off a two-pack of Epi Pens is $100. But according
to The Wall Street Journal, the profit is actually about $166-about 60
percent higher than Bresch disclosed. That's because Bresch told
Congress a profit figure that included a 37.5 percent tax rate on the
Epi Pen, even though Mylan paid a tax rate of only 7 percent last year.
An analyst told The Wall Street Journal that the $100 reported profit
figure "has nothing to do with reality."
Topics:Healthcare

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