Drug Discovery and Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Women in Pharma and Biotech
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • Resources
    • Video features
    • Podcast
    • Voices
    • Webinars
  • Pharma 50
    • 2025 Pharma 50
    • 2024 Pharma 50
    • 2023 Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50
  • Advertise
  • SUBSCRIBE

Mylan Could Be Next Target for Price Hike Criticism

By Ryan Bushey | June 13, 2016

A report released by Wells Fargo analyst David Maris suggests generic drug maker Mylan NV may become the next target of scrutiny for its drug-pricing tactics.

Maris’s report explained that the company committed to staggering price increases in 2016, according to Bloomberg. A generic drug for gastroesophageal reflux disease, metoclopramide, had its price raised by 444 percent while a therapy for irritable bowel syndrome, dicyclomine, had a 400 percent increase.

One of the pharmaceutical firm’s biggest products in the U.S., tolterodine, which treats overactive bladder, had its price raised 56 percent.

Maris noted, “the drugs for which Mylan raised prices considerably are a relatively small portion of its business,” added STAT.

However, the analyst said that the act of raising the costs of these drugs by huge margins is risky because it’s in an environment where the actions of Martin Shkreli, former CEO of Turing Pharmaceuticals, and Valeant Pharmaceuticals have made the issue of drug pricing part of the national conversation.

Maris elaborated saying that these maneuvers can come at a real cost to patients, shareholders and the company’s reputation.

But a spokesperson for Mylan, Nina Devlin, contends that this analysis is “flawed” along with being “self-serving and misleading to investors.”

A statement sent to CNBC by Devlin read in part, “”Mylan has always been known to have one of the industry’s broadest and most globally diversified business models and portfolios, which we have successfully managed by balancing numerous variables, including the natural price reductions that have always been inherent to the generics industry.”

Devlin countered that this research only focused on a small segment of Mylan’s 1,400 global products and 600 products sold in the U.S.

Mylan’s stock was down nearly 6 percent upon the release of the report, but rebounded by half during mid-day trading.


Filed Under: Drug Discovery

 

Related Articles Read More >

EVEREST lead investigator on why Dupixent sets a new bar for treating coexisting CRSwNP and asthma
Sanders, King target DTC pharma ads but the industry worries more about threats to its $2B R&D model
Zoliflodacin wins FDA nod for treatment of gonorrhea
FDA approved ENFLONSIA for the prevention of RSV in Infants
“ddd
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in the drug discovery and development industry.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Drug Discovery and Development
  • MassDevice
  • DeviceTalks
  • Medtech100 Index
  • Medical Design Sourcing
  • Medical Design & Outsourcing
  • Medical Tubing + Extrusion
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Pharmaceutical Processing World

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Drug Discovery & Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Women in Pharma and Biotech
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • Resources
    • Video features
    • Podcast
    • Voices
    • Webinars
  • Pharma 50
    • 2025 Pharma 50
    • 2024 Pharma 50
    • 2023 Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50
  • Advertise
  • SUBSCRIBE