Mylan Blamed ObamaCare for ‘Noise’ Surrounding Epipen Price Hike

Before Heather Bresch became CEO of Mylan, she was a lobbyist for the company. I am sure her success as a lobbyist and role as CEO at Mylan had nothing to do with the fact that her Dad is Senator Manchin, democrat asshole from W. Virginia.

In an indescribable conference dated a few weeks ago, the company blamed employers for choosing high deductible plans for the ‘noise’ around the 460%+ price hike for the Epipen, a life saving allergy drug. They also called the product inexpensive. Fuckery, largess.

With respect to EpiPen, revenues were driven by net price favorability, due in part to payer pricing dynamics year over year, as well as strong sales volumes in anticipation of the peak season. We began realizing the benefits of customer contract negotiations over the last several quarters. I’d note that year-over-year comps will continue to evolve until we pass the one-year mark of the Auvi-Q recall.

But this point, I think there has been a lot of discussion and some headlines around patients going from paying a copay to now paying the entire cost of a product. And where EpiPen falls, because if you look on an annual basis, as a life-saving drug, to have a WAC [Wholesaler Acquisition Cost] price at just under $600, I think that you can see it falls as not an expensive product. And so when employers through high-deductible plans that were incentivized to increase high-deductible plans through Obamacare, as people — as employers shift more cost to employees and make that everything’s got to come out of pocket before you hit your deductible is where you’re seeing a lot of noise around EpiPen.

And so again, I think as far as us realizing those margins are sustainable as we work ourselves through these contracts. And if the dynamic around the EpiPen market would ever change, those would change as well. But I think what we’re continuing to benefit now is the realization of those.

I think as I said earlier in my remarks, we don’t have a significant concentration from anyone product or business segment at Mylan today. And as we continue to grow, just as now we’re bringing Meda into the fold, EpiPen from a true dollar contribution will just continue to shrink. So again, there’s no over-reliance on EpiPen as a brand.

Let’s recap.

The Third Estate, a garrulous class of people, have been complaining over the 460% increase in the cost of the Epipen and is the core problem here, not the fact that the price itself has no business or merit being this high. Moreover, if it wasn’t for those pesky employers, choosing high deductible Obamacare plans, none of this ‘noise’ would be present now. Tax payers would be paying Mylan’s bills like the good little slaves they are, and corrupt lobbyists like Heather Manchin would continue to ingratiate themselves with elaborate pay hikes, unabated, in order to finance 300 foot yachts and summering in Nantucket.

Shares of MYL are down another 5.4% today.  They deserve to get smoked.

As you were.