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Mylan Under Scrutiny After 'Valeant-Like' Epipen Price Raise

Shares of Mylan (MYL) are sliding as the company makes headlines over price hikes of its EpiPen device, which is used by individuals to treat emergency allergic reactions. Wells Fargo analyst David Maris, who had previously voiced concern over price increases from several companies including Valeant Pharmaceuticals (VRX), noted that he believes the media attention will not benefit Mylan in the long run.

EPIPEN PRICE HIKE: Yesterday, MarketWatch reported that the price of Mylan's EpiPen has risen sixfold over the last several years. What the price increase means for patients varies according to their health insurance coverage, but is exacerbated by the difficulty of procuring the generic, which holds a small portion of the market, the publication noted. Further, MarketWatch said Mylan's price increase was "Valeant-like" (VRX) and compared it to Martin Shkreli's Turing Pharmaceuticals raises in approach. On Wednesday, CNBC had also reported on the subject, noting...