Price-Gouging Pharma Co. Recalls Adulterated Rx

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Firm previously paid half-billion dollar fine for anti-consumer practices 

| CNN – Mylan Pharmaceuticals Inc. is recalling one lot of the anti-anxiety medication alprazolam — commonly sold under the brand name Xanax — “due to the potential presence of foreign substance,” the company said last week.

The company said the likelihood that someone would fall ill “is expected to be rare, but the remote risk of infection to a patient cannot be ruled out.” Mylan added that, as of the announcement on Friday, it had not gotten any reports of adverse events linked to that particular lot.

The anti-anxiety medication is recalled “due to the potential presence of foreign substance.”

Mylan declined to provide additional information about the product or foreign substance. [The most likely reason not to provide additional information is that a company has something to hide that could damage its reputation even further. – Ed.]

The voluntary recall includes a single lot of bottles, each containing 500 0.5-milligram tablets, that were distributed in the United States between July and August. The lot number affected was 8082708, and the expiration date is listed as September 2020.

Instructions for wholesalers, retailers and consumers to return recalled bottles can be found in the company’s announcement, which was also posted to the US Food and Drug Administration’s website.

Adverse events can be reported to the agency’s MedWatch Adverse Event Reporting program. SOURCE [Fair Use].

Mylan’s troubling history … 

In 2016, Mylan’s pricing of the EpiPen, an epinephrine autoinjector, became controversial and was widely referred to as “price gouging”.

As a result, investigations were opened into whether Mylan had misclassified the EpiPen under the Medicaid Drug Rebate Program, a common form of pharmaceutical fraud.

In October 2016, Mylan settled these investigations with the U.S. Department of Justice, agreeing to pay $465 million and enter into a corporate integrity agreement concerning the rebate program.

In a report published on June 12, 2017 Institutional Shareholder Services criticized Mylan for the “outsized compensation” of Mylan’s directors.

Former CEO Robert Coury received a $98 million 2016 pay package in spite of shareholder losses and the perceived harm to the company inflicted by the EpiPen controversies. The report urged Mylan’s shareholders to oust all of Mylan’s existing directors. Source. 

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