The withering scrutiny given to EpiPen pricing is now extending to the Mylan Pharmaceuticals board of directors and its oversight of the drug maker’s executive team.
In a harshly worded letter sent Thursday, New York City Comptroller Scott Stringer chastised the Mylan board because the EpiPen controversy “appears to be the costly consequence of weak oversight of management decisions that prioritize short-term profit at the expense of long-term value creation.”
And Stringer charged that the Mylan board “failed” to properly oversee legal, regulatory, and reputational risks, and align the compensation given to Chief Executive Officer Heather Bresch with her long-term performance.
Stringer should point the finger at himself. Pension fund losing money yet S&P 500 up 6.6% YTD. Serves you right Scott for putting your municipal employees at risk by investing in hedge funds, private equity and risky drug stocks. Maybe you are the one that should be replaced.
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