In a statement to NBC News, an FTC spokesman said, "The Commission takes seriously its obligation to take action where pharmaceutical companies have violated the antitrust laws, and it will continue to closely scrutinize drug market competition on consumers' behalf.". Her net worth is estimated to be $27 million. exclude terms. Her “other” pay leaped all the way to $751,245. As of 2 March 2020 she still owns at least 302,999 units of Mylan NV stock. Days before Mylan NV announced an ugly forecast for the year ahead, the generic drugmaker gave its chief executive a raise. How Can The Pharmaceutical Industry Be Improved? Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. Forbes' Matthew Herper sits down Mylan's Heather Bresch. Prior to becoming CEO, Ms. Bresch served as the Company’s President, where she was responsible for its day-to-day operations. UPDATE: On September 21st, 2016, the House Oversight Committee convened a hearing on the EpiPen price hike issue. Victor J. Heather Bresch is 50, she's been the Chief Executive Officer and Executive Director of Mylan NV since 2016. "And why I'm here today and why I want to change this conversation, like I said, first of all, so everyone has access.". © 2020 Forbes Media LLC. Mad About Epipen? Heather Bresch, Mylan2019 total pay: $18.5 million2018 total pay: $13.33 millionPercentage change: 38.8%. All Rights Reserved. Enclose phrases in quotes. Her extensive experience in the industry has helped position Mylan as a global pharmaceutical leader. Read more: Mylan drops most in three years despite vow of shift. The North America segment develops, manufactures, sells, and distributes pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized and cream, or ointment form. Heather Bresch, CEO of Mylan, defended her $19 million dollar salary by hiking the price of the lifesaving EpiPen over 500 percent on CNBC Thursday morning. Bresch, daughter of Sen. Joe Manchin (D-W.Va.), even came prepared with posters to [...]. On average, Mylan NV executives and independent directors trade stock every 14 days with the average trade being worth of $5,685,593. © 2020 Questex LLC. She owns about 856,000 shares in the firm, and most of her equity awards have in recent years been linked to performance targets including return on invested capital and stock return relative to peers. At a WVU basketball game in 1992, Bresch's father mentioned his daughter's job search to Mylan CEO Milan Puskar. And from the fourth quarter of 2013 to the second quarter of 2016, Mylan steadily raised EpiPen prices 15 percent every other quarter. In 2015, she was listed as #22 in Fortune magazine’s “Most Powerful Women” list. Following yet another disappointing quarter, Mylan shares dropped the most in three years on Wednesday. “When there’s a risk of giving out below-consensus earnings guidance, should you be really signing a new employment agreement?” Wells Fargo analyst David Maris said in an interview. Bresch told Forbes in 2012 that "more women at the top are needed to shrink the ambition gap." The firm engages in the development, license, manufacture, market and distribution of generic, branded generic and specialty pharmaceutical products. Her Twitter handle is @AlyssaEinDC. As I was putting the finishing touches on this profile last week, I got an email from Mylan’s Vice President of Global Communications. After Mylan acquired EpiPen the company also amped up its lobbying efforts. In 2015, President Rajiv Malik's base pay increased 11.1 percent to $1 million, and Chief Commercial Officer Anthony Mauro saw his jump 13.6 percent to $625,000. Given The Price Of An EpiPen, Mylan's Injector Ought To Work, Bachelor of Arts / Science, West Virginia University. In 2008 and 2009, Mylan raised the price by 5 percent. "I understand better than anyone that facts are inconvenient to headlines," Bresch said. Before that, she served as Chief Operating Officer and Chief Integration Officer, leading the successful integration of two international acquisitions – Matrix Laboratories and Merck KGaA’s generics business – which more than doubled Mylan’s size and transformed it from a purely U.S. company to a global one. On average, Heather trades about 57,983 units every 108 days since 2015. Scandals come in all different shapes and sizes. In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. She has served as the chief executive officer (CEO) of Mylan since 2012. In 1992, Bresch started working as a clerk in a factory owned by Mylan, a generic drug company, and rose through the company to become the chief executive officer in 2012. There are no executives at Mylan NV getting paid more. Mylan increased Chief Executive Officer Heather Bresch’s salary by more than 15 percent to $1.5 million and extended her contract through … "As the health insurance environment has evolved, driven by the implementation of the Affordable Care Act, patients and families enrolled in high-deductible health insurance plans, who are uninsured, or who pay cash at the pharmacy, have faced higher costs for their medicine," Mylan said in a statement. Heather Bresch salary has significantly increased over the past few years because of all the essential decisions she has taken, that has helped the company grow. A 2008 inquiry found Bresch didn't complete the coursework for her MBA granted by West Virginia University. As NBC News previously reported, the sharp increases in price haven't escaped the attention of parents worried about paying for the drug in the back-to-school scramble, and Congress is starting to scrutinize Mylan's pricing. According to Securities and Exchange Commission filings, Bresch's total compensation went from $2,453,456 to $18,931,068 from 2007 to 2015. At the end of 2009 it tried out a 19 percent hike. While you may not know Mylan by name, [...]. The most active insiders traders include Laboratories Abbott Product..., Robert J Coury, and Heather M Bresch. The board also gave similar-sized salary bumps and extensions to Chief Financial Officer Ken Parks and Chief Commercial Officer Anthony Mauro, who now each get $800,000. In May, Heather Bresch, CEO of the generic producer Mylan, projected annual sales as high as $11.5 billion, quite a jump from 2012's $6.1 billion, her first year. Alyssa is originally from New Jersey and lives in Arlington, Virginia. Emerging targets like KRAS, MET and RET are inspiring novel kinase inhibitor development and fueling billions in pharma deals. The companies say the combined drugmaker will have global scale and geographic reach and will be a “partner of choice” for midsized companies aiming to reach other markets. Her base salary in 2018 was $1.3 million, the same as it has … The next wave of immuno-oncology R&D includes drugs that interact with a wide range of emerging immune targets, including TIGIT and CD47. The most recent stock trade was executed by Mark W Parrish on 11 August 2020, trading 12,500 units of MYL stock currently worth $209,875. The company soon thereafter offered her a low-level position in the quality control department of a factory in Morgantown. In May, Heather Bresch, CEO of the generic producer Mylan, projected annual sales as high as $11.5 billion, quite a jump from 2012's $6.1 billion, her first year.