For the past week, a pharmaceutical company called Mylan has been making headlines as the latest example of corporate greed gone amok. It’s a similar story to that of Martin Shkreli, who hiked the price of the AIDS drug Daraprim 5,556 percent, from $13.5 to $750 per tablet. In the case of Mylan, they’ve been under fire for raising the price of the EpiPen, on which they have a monopoly, 400% over a relatively short period of time. Since acquiring the drug from Merck in 2008, Mylan has increased its price from $100 to as much as $600.Hillary Clinton blasted the price hike as outrageous — and just the latest example of a company taking advantage of its consumers. She added, “It’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them.”
Well, conveniently, Hillary left out this little nugget of information about the offending company in this case.
We’ve learned that the company responsible for the increase, Mylan Pharmaceuticals, is a Clinton Foundation donor helmed by the daughter of a Democratic Senator.The CEO of Mylan is Heather Bresch, daughter of West Virginia Senator Joe Manchin. Mylan CEO Bresch reportedly earned a salary of close to $19 million in 2015, an increase in 671% over the same period in which the EpiPen rose in price.
In addition, Mylan has contributed up to $250,000 to the Clinton Foundation according to the foundation’s records. Despite the connections to Clinton, the Democratic nominee has been critical of Mylan Pharmaceuticals actions.
The other day, Hillary ran a campaign ad where she tried to link Donald Trump to the KKK — apparently unaware that she’s received over $20,000 in campaign contributions from KKK members. Now she’s blasting another mouth that feeds her.But with a donation of $250,000 to her own Clinton Foundation, one can’t help but wonder what kind of quid pro quo she’s trading with them behind the scenes while bashing them publicly to her own political advantage. Curious, isn’t it?
[Note: This post was written by The Analytical Economist]