Heather Bresch, the Mylan CEO at the center of the EpiPen pricing controversy, addressed scrutiny over the Canonsburg, Pa.-based company's pricing practices in a televised interview Thursday on CNBC.
Following Mylan's announcement that it would offer greater rebates for patients to acquire the drug at a lower cost, CNBC's Brian Sullivan asked why the company didn't just lower the drug's list price instead.
"Had we reduced the list price, I couldn't ensure that everyone who needs EpiPen gets one. So we went around the system," Ms. Bresch said.
She blamed a faulty healthcare system as the main culprit for high drug prices, calling the industry a bubble — like the mortgage crisis — that's ready to burst.
"The patient is paying twice. They're paying full retail price at the counter, and they're paying higher premiums on their insurance," said Ms. Bresch. "It was never intended that a consumer — that the patients — would be paying list price, never. The system wasn't built for that."
Ms. Bresch also argued that middlemen like wholesalers, retailers and pharmacy benefit managers tack on additional costs to the drug that is outside of Mylan's control, reported WSAZ.
"The price goes from $50 to $500 [or] $600 today and you're making $18 million a year," said Mr. Sullivan during the interview. "You understand how that looks?"
Ms. Bresch said that facts are inconvenient to headlines and explained Mylan only receives $274 for a two-pack of EpiPens listed at $608, while insurers and pharmacies take more than half.
"Look, we are going to continue to run a business," Ms. Bresch said when asked about the possibility of future price hikes. "We're going to continue to meet supply and demand of what's out there."