Panel: Bresch disguised EpiPen profits
WASHINGTON – Leaders of the House Oversight Committee want EpiPen maker Mylan to explain why the firm’s CEO failed to tell Congress profit rates the company claimed for the life-saving EpiPen were calculated after taxes.
Heather Bresch, CEO of Southpointe-based Mylan, repeatedly told the panel last month the firm made just $50 in profit for EpiPens sold for more than $300 apiece. But the lawmakers said in a letter released Monday, the figures Bresch cited were calculated after factoring in the 37.5 percent U.S. tax rate. Before taxes, the EpiPen profit is actually $160 for a two-pack.
Committee Chairman Jason Chaffetz of Utah and Rep. Elijah Cummings of Maryland, the panel’s senior Democrat, said Bresch’s failure to disclose the tax assumptions raised questions about her truthfulness at the Sept. 21 hearing.