Mylan CEO: “The US Healthcare System Bubble Is Going To Burst; This Is No Different Than The Subprime Crisis”

Thursday, August 25, 2016
By Paul Martin

by Tyler Durden
Aug 25, 2016

… price is only one part of the problem that Mylan is addressing according to its CEO. “All involved must also take steps to help meaningfully address the U.S. health care crisis,” she said, “and we are committed to do our part to drive change in collaboration with policymakers, payors, patients and health care professionals.”

In other words, the company is at fault, but so is the system.

Bresch told CNBC that the healthcare system is in crisis, causing the patient to pay for full retail prices at the drug counter and rising premiums on their health insurance, noting that “only in healthcare” you could have paid $25 yesterday at a pharmacy counter one day and up are paying $600, $1000, $2000 the next day.

“No one’s more frustrated than me,” she said, and then she made a stark warning going to the heart of the problem: stating just how broken the US healthcare system – which allowed Mylan to charge as much as it did in the first place – truly is:

“My frustration is, the list price is $608. There is a system. I laid out that there are four or five hands that the product touches, and companies that it goes through before it ever gets to that patient at the counter. Everyone should be frustrated. I’m hoping that this is an inflection point for this country. Our healthcare is in a crisis, it’s no different than the mortgage financial crisis back in 2007. This bubble is going to burst.”

The Rest…HERE

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