World News #27 - Dolla Dolla - David Bernie
World News is a project by David Bernie that uses the medium of posters that promote issues and stories from around the world.
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David Bernie World News 27 Dolla Dolla Heather Bresch Mylan Epipen

World News #27 – Dolla Dolla

Articles

“EpiPen prices aren’t the only thing to jump at Mylan. Executive salaries have also seen a stratospheric uptick.

Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch’s total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase, according to data provided by Connecture.

In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. In 2008 and 2009, Mylan raised the price by 5 percent. At the end of 2009 it tried out a 19 percent hike. The years 2010-2013 saw a succession of 10 percent price hikes.”

– NBC News, ​Mylan Execs Gave Themselves Raises As They Hiked EpiPen Prices.
 
“The pharmaceutical company Mylan has been taking on a boatload of vituperation — and rightfully so — for jacking up the price of its lifesaving EpiPen injector, which reverses allergic reactions, by 500%.

But there’s another reason to detest this remarkably amoral corporation: It’s also a tax dodger. Mylan is one of the leading exploiters of the technique known as inversion, in which a U.S. company cuts its tax bill by acquiring a foreign firm and moving its tax domicile to the acquired company’s homeland.

Mylan’s 2014 deal involved its buying a generics manufacturer from Abbott Laboratories and reincorporating in the Netherlands, the subsidiary’s home. As in all inversions, nothing else changed: Mylan’s operational headquarters remained in Pennsylvania, and its main workforce didn’t relocate. At one point, Mylan even appealed to U.S. antitrust officials to help it block a takeover bid from an Israeli company. But the deal did allow the firm to cut its U.S. tax bill.”

– LA Times, ​Another reason to hate Mylan, which jacked up the price of life-saving EpiPens: It’s a tax dodger .

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David Bernie World News 27 Dolla Dolla Bill Y'all Mylan Heather Bresch

David Bernie World News 27 Dolla Dolla Bill Y'all Mylan Heather Bresch

David Bernie World News 27 Dolla Dolla Bill Y'all Mylan Heather Bresch

 

World News

World News is a project by David Bernie that uses the medium of posters that promote issues and stories from around the world.

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Creative Commons License
This work by David Bernie is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. You may download, share, and post the images under the condition that the works are attributed to the artist.

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World News

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Posters, World News