Several years ago, I wrote a blog titled New Face In Price Gouging And Political Influence. It involved Senator Joe Manchin’s daughter Heather Bresch. The blog is worth repeating today taking into account the proverb of old that the apple does not fall far from the tree.
The proverb refers to children who show qualities or talents that are similar to those of their parents. In this case, Heather Bresch and her father Joe Manchin.
The blog in its entirety.
NEW FACE IN PRICE GOUGING AND POLITICAL INFLUENCE
“The little guy does not get a break. The big guys get everything.
Two of the biggest whores are the big pharmaceutical houses and Congress. They defecate on the public without thought or consideration.
An example is Mylan Pharmaceuticals. Their #1 product is the EpiPen. Forty percent of their business.
Mylan’s CEO is Heather Bresch. Her father is Senator Joe Manchin of West Virginia.
Bresch is on the hot seat. For the unusual high cost of EpiPen. She is taking a beating in the media.
EpiPen is a life saver for anyone allergic to common foods. Like peanuts, shellfish and eggs. Even bee stings.
The resultant medical condition is anaphylaxis. A potentially fatal allergic reaction. Required to cure/save a life is an emergency dose of epinephrine. A quick dose.
Life can disappear rapidly from the symptoms. Shortness of breath, throat swelling, tongue swelling, vomiting, and low blood pressure. Seconds are important.
Prior to Epi Pen’s invention, anyone with anaphylaxis had to be treated by drawing epinephrine from a bottle with a syringe. Too time consuming. Death could occur in even that slight time. A quicker method was required.
Turned out to be EpiPen. EpiPen is a small machine. Looks like a big hypodermic needle. The epinephrine contained in it when purchased. If needed, a shot in the hip is all it takes. The size and force of the needle guarantees immediate introduction into the blood stream.
Mylan cornered the patents in 2007. The patents have since made millions for Mylan. Mylan today is #1 in the food allergy market. It’s U.S. market share is 90 percent.
Mylan successfully lobbied a bill through Congress requiring all public schools to carry EpiPens. Obama signed the bill into law November 2013.
Schools were and still are required to buy the EpiPens. A big time expenditure. The life of an EpiPen is one year. Ergo, each year the schools and others in need of EpiPens are required to repurchase them.
Oh, the money coming in! Mylan made its cash flow even more profitable. Mylan automatically implemented double digit price hikes every other quarter.
The genius behind Mylan’s successful marketing is Heather Bresch. CEO of Mylan.
After having cornered the market for the device in 2007, Mylan’s consumer cost has increased by 481 percent. During that time, Bresch’s salary has increased 671 percent. All in a period of nine years.
EpiPen is presently selling in excess of $600 a package. Two pens per package. To the consumer, the cost is $415. After insurance discounts.
In France, the consumer pays $85 USD.
In 2007, Bresch’s salary was $2.5 million. Today, $18.9 million.
Bresch proudly proclaims EpiPen as her “baby.”
In addition to her executive responsibilities, Bresch has acted as a lobbyist for Mylan. At one time her position at Mylan was strictly as a lobbyist. Bresch was a factor in Washington even before her father Joe Manchin became a United States Senator in 2010.
Mylan’s patent rights run out in 2018. The generic would hit the market at a significantly cheaper price than what Mylan is charging.
As Mylan CEO, Bresch successfully lobbied anti-generic legislation that will benefit Mylan in 2018. The thrust of the new law is that the FDA must first approve a generic before it can go to market. The FDA is a useless political tool. Needs redoing from top to bottom. It could take years to receive FDA approval for anti-generics. Especially Mylan’s EpiPen.
Bresch is a typical corporate CEO. The bottom line is everything. She got Mylan into inversion. She reincorporated Mylan in the Netherlands to significantly lower its effective tax rate.
Everything is as before the inversion. The plant is still in Pennsylvania. The Netherlands merely a small office.
Bresch has taken advantage of the inversion loophole in the tax laws. Laws passed over the years by Congress and signed into law by our Presidents.
Her father Senator Joe Manchin considers inversion illegal.
Regarding Bresch taking advantage of the inversion laws, she told the New York Times, “You can’t maintain a competitive disadvantage…..I mean you just can’t.”
In 2014, Fortune Magazine listed Bresch as one of the “50 Most Powerful Women In Business.” Number 31.
Joe Manchin is Heather Bresch’s Dad. A well known and respected political figure. Since 2010, he has been a United States Senator from West Virginia. A Democrat. Leans modestly left of center. Considered bipartisan. Frequently votes for Republican legislation.
A professional politician. Since 1982, he has served in the West Virginia House of Delegates, West Virginia Senate, Secretary of State for West Virginia, and Governor of West Virginia. Now, a United States Senator.
His family bears resemblance to the Bush’s. His father, grandfather and other relatives were politicians locally and at the State level.
Manchin was already a prominent politician during Bresch’s upbringing.
Sometimes a measure of a person’s character can be measured by prior life experiences. One of Bresch’s was her short lived MBA.
Bresch earned a Bachelor’s degree from West Virginia University. She attended West Virginia thereafter to obtain an MBA. She completed only 26 of the required 48 credit hours.
In 2007, Bresch was a prominent staff member at Mylan. She had been claiming she obtained an MBA from West Virginia University. The Pittsburgh Post-Gazette exposed her MBA claim.
West Virginia University disputed it. However, subsequently awarded Bresch an MBA. Still with only 26 credit hours.
Her father Joe Manchin was West Virginia Governor at the time. He and West Virginia University President Michael Garrison were friends. Garrison was also a family friend and at one time a business associate of Bresch. He also had worked at one time for Mylan as a consultant and lobbyist.
Faculty and others at West Virginia were incensed. A degree given without completion of necessary work unheard of.
The Faculty Senate voted 77-19 against the situation. In effect, a vote of no confidence against Garrison. The full Faculty in an open vote, voted 565-39 with 11 abstentions. Another no confidence vote in effect of Garrison.
Garrison tendered his resignation soon after to take effect September 1, 2008.
The University rescinded Bresch’s MBA degree.
There was a grand jury investigation. No indictments were forthcoming.
The price gouging disclosure is at an infancy stage. More will come. The country appears unhappy with Bresch. TV evening luminary Stephen Colbert referred to her as a “douche.” The term has been picked up by the media and is being circulated as “douchebag.” Whatever, one and the same.
No question I am unhappy with Big Pharma and the manipulation of drug costs. I have complained in writing and on my podcast show in the past about such.
Then there is the political influence that is available to the big guys. Not the little people. The 99 percent.
Is there price gouging? Is there political influence?
Consider the facts. Then make up your own mind.
You know where I stand. There is a stink here.”
Senator Manchin has exhibited a multitude of inexplicable positions this year. Reflecting a mind that is prone to the inconsistent, concern for personal “values,” and instability. Heather has exhibited in her lifetime personal “values” such as reflected in New Face In Price Gouging, etc.
Values learned from the time she first sat on her father’s lap. As exhibited in her adult life.
Enjoy your Sunday!
Adreniclick can be bought in many stores and is far cheaper.
The delivery system in Epipen is what costs and was expensive to develop, however, as with many things with big pharma has been allowed to get out of control.
The daughter is for inversion however the father thinks its illegal. Yet Obama signed the bill. So who really is to blame ?
Manchin isn’t the devil many democrats think he is and he’ll be the next democrat presidential candidate. So who will you vote ?
…and there will always be someone on this blog willing to cover for corrupt politicians and the corporations that create these problems and try and twist things politically away from those who are the problem.
It is incredible to see that there is someone so eager to try and start a fight on your blog that he would promote the idea that Joe Manchin will be the Democrat nomination for president the next time around and then ask who would vote for him? Apparently he thinks this is funny and that anyone would take anything he has to say as just plain stupid.
The issue with EpiPen, Mylan Pharmaceuticals, it’s CEO, Heather Bresch and her father, Senator Joe Manchin, illustrate the problem with Capitalism, as it has come to be here in America.
Something needs to change, or it will continue to get worse.
We must stop electing our leadership (blindly) based on “party” alone – and – we must somehow alter the lobby industry.
Seems like price gouging only pertains to the Bodega owner who ups the price of the last few bags of ice during a power outage. Corps are free to do as they please.
Manchin voted as that states voters wanted, thats how the system is supposed to work.
Congress allowed lobbyists to get where they are and do as they do. Follow the money.
Will – your ‘pollyanna’ gloss over of Joe Manchin’s responsibilities in congress, ignores the issues and appears to offer nothing but unsubstantiated “political” cover for a bad situation, to suit his own moneyed interests, instead of the right thing, not just for West Virginia, but for the whole country.
The Build Back Better legislation would greatly help the state of West Virginia (his state) and seems quite popular here, if you read the local reporting.
While this nation is calming a bit, with Trumps absence from the bully pulpit and social media, I continue to see conservative blogs trying to perpetuate his lies and deconstructionist agenda.
Personally, I never found the Republican agenda to be the best for America, unless you are wealthy or a major corporate player. That said I didn’t consider them the threat they are today, just a minor roadblock to work around while moving this nation forward. Time will tell.
There are a slew of retired generals vehemently warning us that we likely face a forceful overthrow (coup) of our government in the near future.
Guess what, they are not talking about it happening at the hands of Democrats.
The Apple does not fall far from the tree. Crackhead Hunter Biden fathered a baby with a hooker. Dad a serial plagiarizing kid sniffer.
The pendulum has swung and will now come back to the middle right where it belongs. The country may be coming back to its senses. Its about time, this has to happen every once in awhile.
This country was founded as a republic and more accurately a capitalistic republic. Anyone that would rather live under socialism should move to that country.
Will – your over simplistic dribble on Lou’s post is tiresome. You have been WRONG on just about EVERY prediction you have made for as long as you have been posting here.
May I remind you that regardless of your posts on how the certification of the election would play out, it was challenged by a violent attempt on the very capitalistic republic you are so eager to pontificate about by right wing anarchists fully funded by capitalists themselves.
Perhaps the “capitalists” should move away and let our country adjust to proper social values. instead of the draconian capitalists thumb on the scale.
Jason, you sound like a bitter loser who cant find a job, because capitalism. or Trump… or racism, or whatever. Get a job and contribute, loser.
Got that wrong too, I work for the New Your State Police, I guess you could say that’s not really a job,. They take just about anyone who applies.
I’d like to know just what Jason does for the state police or where he works. Maybe he works downstate, but, as a retiree I really doubt he works for them in any capacity. Oh, they don’t take anyone who applies, or, at least they didn’t years ago.
I worked with Patrick Hogan, the perfect example of how they hire just anyone. He used to do a wacko right wing radio show on the side and was a member of the Proud Boys (or so he bragged), all on the QT.
Jason isn’t my real name, just like Will isn’t your real name. I choose not to use my real name because the Hogan’s (al bullies) are thick in the law enforcement and judicial system here and have a bad reputation for retaliation. Patrick himself is what we call “dim” and I don’t want my family hurt.
I’m surprised Mr Hogan was allowed to do a radio show such as that if he was part of the SP. It may not be hard for the bullies to figure this out.