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Mylan CEO Defends Rising Cost Of EpiPens

epipen.jpg
Nick
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Heather Bresch, the head of pharmaceutical company Mylan, is defending the cost for life-saving EpiPens, signaling the company has no plans to lower prices despite a public outcry and questions from skeptical lawmakers.

In prepared testimony for Congress, Mylan’s CEO says she believes Mylan has struck a balance between price and access to the drug. The price of EpiPens has grown to $608 for a two-pack, an increase of more than 500 percent since 2007.

"I think many people incorrectly assume we make $600 off each EpiPen," according to Bresch's prepared testimony, which was obtained by CNNMoney on Tuesday. "This is simply not true."

Bresch's written statements say Mylan makes about $50 off each pen after rebates, fees and other costs are deducted, CNNMoney reported.

Bresch is set to testify Wednesday before the House Oversight and Government Reform Committee, whose hearing was prompted by the outpouring of outrage over EpiPen prices.