New York’s attorney general to investigate maker of EpiPen
NEW YORK (CNNMoney) — Mylan and its troubled EpiPens are the target of an investigation launched New York’s attorney general Tuesday.
Attorney General Eric Schneiderman said he’s looking into whether the company violated antitrust laws.
“Mylan Pharmaceuticals may have inserted potentially anti-competitive terms into its EpiPen sales contracts with numerous local school systems,” a statement from Schneiderman’s office said.
“No child’s life should be put at risk because a parent, school, or healthcare provider cannot afford a simple, life-saving device because of a drug-maker’s anti-competitive practices,” Schneiderman said.
EpiPens, a life-saving treatment for allergic reactions, made national headlines when it came to public attention that Mylan hiked the price of the drug 400% over the course of seven years. It was also revealed last week that Heather Bresch, the CEO, was promised a $28 million bonus in a couple of years if she boosts the company’s profits and share price.
Mylan denied Schneiderman’s claims in a statement, saying its contracts with local school do not include purchase requirements and its EpiPen4Schools program has provided more than 700,000 free injectors to 65,000 schools.
In Washington, the House Oversight Committee has also launched an investigation into Mylan’s pricing for EpiPens.