All of the privileges, none of the responsibilities. Bad damned news.
Mylan to Settle EpiPen Overpricing Case for $465M
21–30 of 85 posts
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#22Re: Mylan to Settle EpiPen Overpricing Case for $465M
#23Earlier quoted context omitted.
Yes, that's the idea, the owners of the company are responsible for the company. Of course, because Mylan is a corporation, the majority of shareholders have limited liability, their largest loss due to the actions of the company would be their investment.
"because Mylan is a corporation" You say this as if this was always true. LLC's are a very recent invention. In the past, shareholders and owners of the company were, in fact, liable.
LLCs are newish. U.S. corporations have had limited liability for well over a century.
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#24For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
I'd like to see the execs barred from country clubs, and a 2yr ban on playing golf.
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#25Correction: EpiPen Maker Mylan's Shareholders Will Pay $465M to Settle Medicaid Overcharging Case
Seems fair, they were the ones who profited from the overcharging.
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#26For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
I'd like to see the execs barred from country clubs, and a 2yr ban on playing golf.
What would this accomplish?
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#27Earlier quoted context omitted.
>If the law allows it, don't expect companies not to do it. This is outright fraud. The law does not allow it. They purposefully misrepresented their product for financial gain.
> And if the law doesn't allow it, but the regulators never drop the hammer, don't expect people not to do it. I'm not saying it isn't fraud. I'm saying that its par for the course when regulators rarely take action. Mylan got greedy and got slapped. Regulatory bodies in the US are woefully underfunded and this sort of thing is the result. Blame congress.
64% of murders currently result in an conviction. At what percentage would it no longer be the perpetrators responsibility for the crime and instead be the fault of the lawmakers lack of ability to bring him to justice?
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#28So from an accounting perspective is the Government just one more highly paid executive?
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#29Earlier quoted context omitted.
I'd like to see the execs barred from country clubs, and a 2yr ban on playing golf.
What would this accomplish?
It's tongue and cheek deterrent, it's effectively ex-communcaiton from their social circles which is where they get their attaboy/girl encouragement that this is acceptable behaviour. They don't see themselves as part of the hoi polloi, and bending the rules to their advantage is called "smart".
Re: Mylan to Settle EpiPen Overpricing Case for $465M
#30For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
I guess it's also worth mentioning that the generic classification "goes back decades, to before Mylan even purchased EpiPen."
Also worth quoting from TFA; "The federal government issued a rule this year requiring all companies with drugs that have been approved under what the Food and Drug Administration calls a new drug application to either reclassify them as brand-name drugs or seek a waiver. Mylan had previously said it would seek such a waiver, but on Friday it said it agreed that the EpiPen would be classified as a branded drug beginning in April of next year."
A quick settlement in this case relieves both parties, as by no means was the government in a good position for accepting the lower rebates for decades and just now turning around and crying fowl.
But by all means, populist outcries are fun to watch, lets waive those pitchforks and yell "off with their heads!"