Mylan’s Epi-Fix: When Saving Face Saves Little or Nothing

iStock

Mylan’s Epi-Fix: When Saving Face Saves Little or Nothing

Aug, 26th 2016

When Mylan announced Thursday that it will take “immediate action” to reduce out-of-pocket costs for patients that rely on the EpiPen, it was a last ditch effort to quiet the furor that has battered the company’s image and undercut its stock for the past two weeks.

On Wednesday, Democratic nominee Hillary Clinton became the latest in a chorus of lawmakers to excoriate Mylan’s “price gouging,” kicking off another selling spree on Wall Street, where Mylan’s stock has plummeted roughly 11% and the Nasdaq Biotech index saw a 3.4% decline, the worst of the summer.

“I think that we responded this morning, first and foremost, ensuring that everyone who needs an EpiPen has an EpiPen,” Mylan CEO Heather Bresch said on CNBC early Thursday. Breach, who is the daughter of the...

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