Mylan (MYL) Denies Rumors CEO Bresch to Step Down
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Embattled EpiPen maker Mylan (NASDAQ: MYL), in an email to StreetInsider, denied rumors that its CEO Heather Bresch will step down. Comments were in response to earlier speculation following a DealReporter story.
A Mylan spokesperson also told StreetInsider that it pulled out of an upcoming Morgan Stanley conference due to a scheduling conflict.
Shares of Mylan have been under heavy pressure over the past few weeks as politicians and the media have berated the company over the massive price hikes for its life-saving product for allergic reactions in children and others.
The company has already taken a number of steps in an attempt to change the narrative, including a CNBC interview with Bresch where she blamed the U.S. health care system, a move by the company to increase discounts on EpiPens, and a plan to introduce a generic version of EpiPen. The company's efforts have done little to change the headlines or stop the bleeding in the stock.
This morning, Presidential hopefully Hillary Clinton pilled on by outlining her plan to address 'unjustified' price hikes on life-saving drugs.
Shares of Mylan are down 2.6%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Analogic (ALOG) CEO Green Resigns; Successor Named
- Buffalo Wild Wings (BWLD) Taps MStar Holding's Ware as CFO
- Wells Fargo says head of capital finance to retire
Create E-mail Alert Related CategoriesCorporate News, Management Changes, Management Comments, Rumors, Trader Talk
Related EntitiesMorgan Stanley, Raising Prices
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!