Tags: House | Demands | Info | EpiPen | Profits

House Demands Info on EpiPen Profit Margins

Image: House Demands Info on EpiPen Profit Margins

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By    |   Monday, 03 Oct 2016 01:35 PM

The House Oversight and Government Reform Committee demands more data on the profit margins of the company that manufactures and sells EpiPens following unclear testimony, the Washington Examiner reports.

Committee chairman Jason Chaffetz, R-Utah, and Elijah Cummings, D-Md., sent a letter to Mylan CEO Heather Bresch over her recent testimony before Congress. According to the congressmen, Bresch neglected to disclose that the figures she cited included a 37.5 percent tax rate, meaning the company makes more off of EpiPens than legislators thought.

"Failing to disclose tax assumptions that formed the basis for the $100 profit per pack claim, despite opportunities to do so before and during the hearing, raises questions," Chaffetz and Cummings wrote, addressing doubt they had even at the hearing on Sept. 21.

"You know, your numbers don't add up," Cummings said then. "And it is extremely difficult to believe that you are making only $50 profit when you just increased the price by more than $100 per pen."

According to the letter, Bresch has until Oct. 7 to produce the additional information, including company profits, costs, tax rates and charitable contributions.

They also request "communications referring to the difference in price" of EpiPens sold in the Netherlands compared to those in the United States.

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The House Oversight and Government Reform Committee demands more data on the profit margins of the company that manufactures and sells EpiPens following unclear testimony...
House, Demands, Info, EpiPen, Profits
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2016-35-03
Monday, 03 Oct 2016 01:35 PM
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