Drug price hikes can damage company reputations: White House
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
WASHINGTON (Reuters) - The White House on Wednesday said pharmaceutical firms risked damaging their reputations with big price hikes, but it sidestepped commenting directly on Mylan NV's decision to raise the price of its severe allergy treatment drug EpiPen.
"I'm obviously not going to make specific comments to specifically second guess the pricing strategy ... of one private enterprise," White House spokesman Josh Earnest said at a news briefing.
"I will observe, however, that pharmaceutical companies that often try to portray themselves as the inventors of life-saving medication often do real damage to their reputation by being greedy and jacking up prices," he said.
(Reporting by Timothy Ahmann, editing by G Crosse)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mylan (MYL) Announces Restructuring Program; Sees Workforce Impact
- Mylan's Commitment to Stemming the Tide of HIV/AIDS as Strong as Ever
- Homicides in El Salvador fall 18.5 percent through November 2016
Create E-mail Alert Related CategoriesGeneral News, Reuters
Related EntitiesRaising 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!