Mylan (MYL) Denies Rumors CEO Bresch to Step Down

September 2, 2016 10:43 AM EDT

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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%.

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