Centers for Medicare & Medicaid Services acting chief Andy Slavitt admonished pharma companies like Mylan (NSDQ:MYL) over unsustainable price increases before the Biopharma Congress in Washington D.C. last week.
Mylan came under fire this year after reports showed that the Canonsburg, Penn.-based company raised the price of its emergency allergy epinephrine injector by 500% since it acquired the product in 2007 from Merck. CEO Heather Bresch pledged to expand the company’s patient assistance program and launch a generic device that will cost $300, half of what a 2-pack of EpiPens costs.
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