Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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Mylan "Gamed the System" and Refuses to Testify at Senate Hearing About EpiPen Costs to Medicaid

Mylan "Gamed the System" and Refuses to Testify at Senate Hearing About EpiPen Costs to Medicaid | Pharmaguy's Insights Into Drug Industry News | Scoop.it

In a move that angered a key Senate lawmaker, Mylan Pharmaceuticals has declined to testify at a planned Nov.30 Senate hearing to review a $465 million settlement the drug maker purportedly reached with the US Department of Justice for shortchanging Medicaid.

In a letter to Sen. Chuck Grassley (R-Iowa), who chairs the Senate Judiciary Committee, an attorney for Mylan explained the company will not appear for three reasons – the “stated focus of the hearing,” because the hearing involves a “pending matter,” because both the Justice Department and the Centers for Medicare & Medicaid Services have already said they will not send officials to testify. The letter was signed by Kathryn Ruemmler, who previously worked as President Obama’s chief lawyer and is now at the Latham & Watkins law firm.

Grassley responded by blasting the feds, as well as the drug maker.

“The Obama Administration is dodging accountability for an expensive problem, and now a company is following its bad example,” he said in a statement. “Taxpayers have paid and [reportedly] continue to pay hundreds of millions of dollars more for the EpiPen than they have to pay. This happened because either the agencies in charge dropped the ball, the company gamed the system, or both.”

“Ironically, the company was eager to talk about this problem a few weeks ago in a press release to investors but not before the United States Senate. It’s a shame government agencies and the company are ducking accountability under a voluntary process. One way or another, I intend to get answers for patients and taxpayers.”

Pharma Guy's insight:

Related article: “Yes, Mylan DID ‘Misclassify’ EpiPen as a Generic, Says Medicaid”; http://sco.lt/5aJWEb

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Senate Invites Turing CEO Shkreli to Visit. Just What He Wanted!

Senate Invites Turing CEO Shkreli to Visit. Just What He Wanted! | Pharmaguy's Insights Into Drug Industry News | Scoop.it
A Senate committee is launching an investigation into prescription drug pricing, responding to public anxiety about companies hiking prices for once-inexpensive medicines.


The Senate’s special committee on aging requested documents and information Wednesday from Turing, Valeant Pharmaceuticals and two other drugmakers already under scrutiny for recent price spikes.


Notably, the senators called for a face-to-face meeting with Turing Pharmaceuticals CEO, Martin Shkreli, “as soon as it is practicable.” A former hedge fund manager, Shkreli has become the public face of the pricing controversy, after his company raised the price of the anti-infection drug Daraprim by more than 5,000 percent. The drug, which Turing acquired in August, is the only U.S.-approved treatment for a deadly parasitic infection that can affect pregnant women and patients with HIV.


Turing said in an emailed statement: “We are reviewing the committee’s request and, as we have and continue to do with similar congressional inquiries, we look forward to having an open and honest dialogue about drug pricing.”

Pharma Guy's insight:

Shkreli taunted politicians on Tweeter on November 3, saying he was "In DC. If any politicians want to start, come at me." (see photo above). Looks like Shkreli was not anywhere near the Senate in the photo.


IMHO, this guy is basking in his 15 minutes of fame. Who knows? He may become the next Trump and run for president some day... Yikes!

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