Friday, October 07, 2016

Mylan Agrees to Pay $465 Million in BlutGelt to the Feds over EpiPen

Well the Feds got their pound of flesh out of Mylan over the EpiPen price hikes.
Mylan, the embattled maker of allergy treatment EpiPen, lowered its 2016 earnings guidance Friday after it agreed to pay $465 million in a settlement with federal regulators over its pricing practices.
“The terms of the settlement do not provide for any finding of wrongdoing on the part of Mylan Inc. or any of its affiliated entities or personnel,” the Canonsburg, Pa.-based company said.
This should be a warning to the drug industry. Hike prices at your own peril. Or do it slowly over a period of months so the FEDs won't catch wind of it. Be subtle going forward.

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