LIZ: THE LIFE-SAVING EPIPEN IS
GETTING A HEALTHY NEW DOSE OF
COMPETITION, AND THAT HAS MYLAN
STOCK SHIVERING.
IT IS DOWN 1.75% AFTER TEAM
COUNTDOWN HAD SHONE A LIGHT ON
THE CEO FOR JACKING UP THE PRICE
OF ITS LIFE-SAVING DRUG BY
A LOT OF PEOPLE COULDN'T AFFORD
IT.
PEOPLE WHO HAVE LIFE-THREATENING
ALLERGIES AND NEEDED EPIPENS.
SOME, EVEN ONE OF MY FLOOR SHOW
MANAGERS, CARRIED AROUND EXPIRED
EPIPENS BECAUSE HE COULDN'T
AFFORD THE HIGH COST OF NEW
ONES.
A COMPETITOR.
TEVA PHARMACEUTICALS' FIRST EVER
GENERIC VERSION OF THE
LIFE-SAVING DRUG INCLUDING AN
EPIPEN JR. FOR VERY YOUNG
CHILDREN.
WE DON'T KNOW THE PRICE YET, BUT
TEVA'S STOCK PRICE JUMPED MORE
THAN 7% ON THE DAY THE NEWS WAS
ANNOUNCED.
WITH ALLERGY SUFFERERS
EVERYWHERE REJOICING, WE WANT TO
BRING IN SOMEONE SO INSTRUMENTAL
IN NOT JUST MAKING THIS A
SHE IS KNOWN AS THE ERIN
EPEPENS.
FIRST, YOUR GUT REACTION TO SO
MUCH NEWS ABOUT THE EPIPEN
COMING OUT.
MOST IMPORTANTLY, THAT THERE
PRICES?
>> WE DON'T YET, BUT IT WAS A
GLOBAL CELEBRATION LITERALLY
AROUND THE WORLD.
WHAT WE'VE GOT RIGHT NOW IS A
MONOPOLY.
WITH THAT, WE HAVE HAD A
SHORTAGE AND PEOPLE DON'T KNOW
IF IT'S ARTIFICIAL SCARCITY.
AGAIN, AS YOU KNOW, MYLAN
ACQUIRED THE RIGHTS TO SELL THIS
DRUG.
THE COST OF MAKING AN EPIPEN IS
$1 SO FOR THEM TO HAVE A
SHORTAGE DOESN'T MAKE SENSE AND
HAD CONSUMERS INCREDIBLY
FRUSTRATED AND SCARED.
LIZ: I CAN IMAGINE.
YOU OF COURSE HAVE CHILDREN WHO
ARE DEATHLY ALLERGIC.
I HAVE A NEPHEW.
EVERYBODY KNOWS SOMEBODY,
PEANUTS, WHEY, WHO KNOWS WHAT,
HOW THE FDA IS CHANGING THE
LANDSCAPE HERE.
THAT'S WHEN WE TALKED ABOUT THE
TAX INVERSION WHERE THEY
RELOCATED THEIR HEADQUARTERS TO
REJECT THAT $40 BILLION
TAKEOVER.
IF YOU LOOK AT THEIR MARKET CAP
IT'S LESS THAN $20 BILLION.
HERE COMES TEVA THREE YEARS
LATER SAYING WE'RE NOT DONE WITH
YOU GUYS YET, WE WILL INTRODUCE
A TRUE GENERIC INTO THE
MARKETPLACE.
WHAT I THINK CONSUMERS ARE
HOPING FOR IS THIS MONOPOLY IS
FINALLY DESTROYED.
THEY HIKED PRICES OVER A DECADE,
WE COULD SHOW YOU THE CHART
BEFORE IT WAS REVEALED, BEFORE
AROUND JULY OF 2015, THE STOCK
WAS AT $76 A SHARE.
PEOPLE CAN ACTUALLY SEE EXACTLY
WHERE IT IS NOW, CHOPPED IN
HALF.
BEING GREEDY DOES NOT PAY AND
SHAREHOLDERS SHOULD NOT BE
DECISION BUT IF WE CAN GET A
THREE-YEAR CHART EVEN, WE CAN
SEE EXACTLY WHAT HAS HAPPENED
WHEN IT COMES TO TEVA.
GIVE US A SENSE OF WHAT HAPPENS
TO THE CEO, WHO WE CONSISTENTLY
HAVE ASKED THE CEO AND THE
COMPANY TO COME ON.
DOESN'T HAPPEN.
STOCK RIGHT NOW AT 37 BUCKS.
>> YOU KNOW, I THINK WHAT'S
REALLY IMPORTANT TO NOTICE RIGHT
NOW IS THERE'S A CLASS ACTION
PROTECTION VIOLATIONS,
ANTITRUST, RACKETEERING,
INFLUENCING AND CORRUPTION
CHARGES AGAINST THIS COMPANY.
IT'S SIMILAR TO WHAT WE SAW
EARLIER THIS MONTH WITH
MONSANTO.
WHEN THESE CASES ARE BROUGHT TO
DECISIVE.
YOU TALK ABOUT LOSS OF MARKET
MONSANTO TRIAL.
THE CLASS ACTION SUIT IS HITTING
HERE WITH MYLAN.
THAT'S SOMETHING WE HAVE TO PAY
ATTENTION TO.
LIZ: I CALL YOU A HERO.
THE SECOND YOU HEAR WHAT TEVA
WILL CHARGE, HOPEFULLY IT IS A
LOT CHEAPER WITH THE GENERIC
VERSION, PLEASE COME BACK ON.