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WSJ: Mylan Misrepresented Profit Figures of EpiPen to Congress

HeadlineSep 28, 2016

In more financial news, Mylan, the maker of the life-saving allergy shot EpiPen, is again under fire, this time for reportedly lying to Congress. Last week, Mylan CEO Heather Bresch told a congressional committee the profit off a two-pack of EpiPens is $100. But according to The Wall Street Journal, the profit is actually about $166—about 60 percent higher than Bresch disclosed. That’s because Bresch told Congress a profit figure that included a 37.5 percent tax rate on the EpiPen, even though Mylan paid a tax rate of only 7 percent last year. An analyst told The Wall Street Journal that the $100 reported profit figure “has nothing to do with reality.”

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