Corporate Corruption News StoriesExcerpts of Key Corporate Corruption News Stories in Major Media
Note: This comprehensive list of corporate corruption news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Genetic modification in the United States and Canada has not accelerated increases in crop yields or led to an overall reduction in the use of chemical pesticides. The promise of genetic modification was twofold: By making crops immune to the effects of weedkillers and inherently resistant to many pests, they would grow so robustly that they would become indispensable to feeding the world’s growing population, while also requiring fewer applications of sprayed pesticides. Twenty years ago, Europe largely rejected genetic modification at the same time the United States and Canada were embracing it. Comparing results on the two continents ... shows how the technology has fallen short of the promise. The United States and Canada have gained no discernible advantage in yields - food per acre - when measured against Western Europe. Also, a recent National Academy of Sciences report found that “there was little evidence” that the introduction of genetically modified crops in the United States had led to yield gains beyond those seen in conventional crops. At the same time, herbicide use has increased in the United States. And the United States has fallen behind Europe’s biggest producer, France, in reducing the overall use of pesticides, which includes both herbicides and insecticides. Pesticides are toxic by design ... and have been linked to developmental delays and cancer. The same companies make and sell both the genetically modified plants and the poisons.
The Washington, D.C.-based Grocery Manufacturers Association (GMA) has been slapped with a $6 million civil penalty, which will be trebled due to its "intentional violations of state law" for laundering money in a 2013 Washington state initiative campaign. If the ... $18 million in total damages holds up on appeal, it may be the highest fine for campaign finance violations in the history of the United States. The grocery lobby group poured more than $11 million into the "No on 522" committee, which fought and narrowly defeated an initiative to require labeling of genetically modified foods and seeds sold to consumers in the state. What prompted the massive award? The GMA established what it called a "defense of brands account." It collected money to defeat the Washington initiative while shielding the identities of major food manufacturers (e.g. Pepsico, Coca-Cola, General Mills, General Foods) who were putting up millions of dollars in support. The GMA, its members and other sources had spent $43 million in 2012 to defeat California's Proposition 37, which would have required all packaged food products to identify genetically modified organisms. "While successfully defeating Prop. 37, certain individual member companies of GMA and some GMA staff received negative responses from the public because of their opposition to Prop. 37," Judge Hirsch wrote in her ruling. Hence, an elaborate scheme was hatched - and approved by the GMA's board - to conceal individual donors.
Note: Read a more in-depth, revealing article on this on mercola.com. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and the GMO controversy.
Sugar pills worked as well at preventing kids' migraines as two commonly used headache medicines, but had fewer side effects, in a study that may lead doctors to rethink how they treat a common ailment in children and teens. It's the first rigorous head-to-head test in kids of two generic prescription drugs also used for adults' migraines: topiramate, an anti-seizure medicine, and amitriptyline, an anti-depressant. The idea was to see if either drug could reduce by half the number of days kids had migraines over a month's time. Both drugs worked that well - but so did placebo sugar pills. The results "really challenge what is typical practice today by headache specialists," said study author Scott Powers, a psychologist at Cincinnati Children's Hospital. "The fact that it shows that two of the most commonly used medications are no more effective than a placebo and have adverse effects makes a very clear statement," said Dr. Leon Epstein, neurology chief at Ann & Robert Lurie H. Children's Hospital of Chicago. The only government-approved migraine medication for kids is topiramate. Side effects from the drugs [included] fatigue, dry mouth and forgetfulness. Kids on topiramate also had tingling sensations in their hands, arms, legs or feet. There was one suicide attempt in the topiramate group, another known side-effect of that drug. The side effects were not unexpected, but given the risks, the results suggest the drugs shouldn't be "first-line prevention treatments" for kids' migraines, Powers said.
Note: This study was published in the New England Journal of Medicine. For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Bee colonies have been dying off in high numbers, with suspicion falling on agricultural pesticides like herbicides and fungicides, as main factors behind the declines. Now, a new study out of the University of Maryland is the first to look at how a “cocktail” of all of various pesticides could be impacting bee colonies over time. “Our results fly in the face of one of the basic tenets of toxicology: that the dose makes the poison,” study senior author Dennis van Engelsdorp, an assistant professor of entomology at the University of Maryland, said. “We found that the number of different compounds was highly predictive of colony death, which suggests that the addition of more compounds somehow overwhelms the bees’ ability to detoxify themselves.” The study looked at 91 honey bee colonies that were owned by three migratory commercial beekeepers over one farming season. The research team examined 93 pesticide compounds that were found in the colonies throughout the season. These compounds were found building up in the bees’ wax in processed pollen, [as well as] in the bodies of nurse bees. The researchers ... measured three key things: the total number of pesticides, the total number of pesticides that were above a minimum level of toxicity, and each colony’s “hazard quotient,” which factors in the hazard posed by the total toxicity of all pesticides present in the colony. What did the researchers find? Unfortunately, all three measures corresponded with a higher probability of colony death or the loss of the queen bee.
Note: This study was published in Nature Scientific Reports, and found that some compounds regarded as "bee-safe" could be a major contributors to honey bee colony losses. Prior to this, neonicotinoid pesticides were found to be connected to colony collapse disorder. Bayer, a major manufacturer of this pesticide, attempted to cover up the connection between its products and the massive die off of bees.
Given what we're seeing in the election's aftermath, photographer-filmmaker Lucian Read clearly picked a prescient title for his recent mini-doc series on inequality in the United States: America Divided, which ... took us to corners of a nation still hurting from the Great Recession. Read's latest short film, Mni Wiconi: The Standing at Standing Rock, turns a camera on the plight of Native Americans, a group that has been neglected and wronged perhaps more than any other in this nation. Members of the Standing Rock Sioux tribe in North Dakota made national headlines for their protests against construction of the Dakota Access Pipeline - which the tribe says interferes with its ancestral land and water rights. This 1,172-mile oil pipeline ... is 95 percent complete despite the lack of the official easements and permits needed to finish it. In addition to introducing key anti-pipeline figures, such as Standing Rock chairman Dave Archambault II and local landowner and activist LaDonna Allard, Read's nine-minute film is a ... sketch of the conflict's root causes, from poverty to broken treaties to the "militarization of the oil industry," as one character puts it. "People standing together is powerful," says Jodi Gilette, President Barack Obama's special assistant for Native American affairs and a Standing Rock tribal member, noting the outpouring of support from unrelated tribes.
Note: Don't miss this beautiful, informative 8-minute video on what's happening at Standing Rock at the link above. For more on this under-reported movement, see this Los Angeles Times article and this article in the UK's Guardian. For more, see concise summaries of deeply revealing news articles on government corruption and the erosion of civil liberties.
A former top Drug Enforcement Administration (DEA) official has accused Congress of putting pharmaceutical company profits ahead of public health in the battle to combat the US’s prescription opioid epidemic. Joseph Rannazzisi, head of the DEA office responsible for preventing prescription medicine abuse until last year, said drug companies and their lobbyists have a “stranglehold” on Congress to protect a $9bn a year trade in opioid painkillers claiming the lives of nearly 19,000 people a year. Rannazzisi ... said the drug industry engineered recent legislation limiting the DEA’s powers to act against pharmacies endangering lives by dispensing disproportionately large numbers of opioids. He also accused lobbyists ... of whipping up opposition to new guidelines for doctors intended to reduce the prescribing of the painkillers. Charges that Congress is too beholden to pharmaceutical companies have been levelled for years. But ... the influence on opioid policies is particularly disturbing because so many lives are being lost. Industry groups have spent hundreds of millions of dollars in lobbying to stave off measures to reduce prescriptions and therefore sales of opioid painkillers. Among the most influential drug industry groups is the Pain Care Forum, co-founded by a top executive of Purdue Pharma – the manufacturer of the opioid which unleashed the addiction epidemic, OxyContin. It spent $740m lobbying Congress and state legislatures over the past decade.
Concerns about the inner workings of the U.S. Centers for Disease Control and Prevention (CDC) have been mounting in recent months amid disclosures of cozy corporate alliances. Now a group of more than a dozen senior scientists have reportedly lodged an ethics complaint alleging the federal agency is being influenced by corporate and political interests in ways that short-change taxpayers. A group calling itself CDC Scientists Preserving Integrity, Diligence and Ethics in Research, or CDC SPIDER, put a list of complaints in writing in a letter to the CDC Chief of Staff and provided a copy of the letter to [a] public watchdog organization. The members of the group have elected to file the complaint anonymously for fear of retribution. “It appears that our mission is being influenced and shaped by outside parties and rogue interests... and Congressional intent for our agency is being circumvented by some of our leaders. What concerns us most, is that it is becoming the norm and not the rare exception,” the letter states. The complaint cites among other things a “cover up” of the poor performance of a women’s health program called ... WISEWOMAN. The complaint alleges there was a coordinated effort within the CDC to misrepresent data given to Congress. “Definitions were changed and data ‘cooked’ to make the results look better than they were,” the complaint states. And the complaint cites as “troubling” the ties between soft drink giant Coca-Cola Co. ... and two high-ranking CDC officials.
UBS, the world's largest wealth manager, is facing embarrassment over fresh revelations going back to the tax investigation that led to the collapse of Swiss banking secrecy. Two significant events are looming before UBS. The first is the possibility of a public trial in France, featuring UBS whistleblower Bradley Birkenfeld, concerning historic tax evasion allegedly orchestrated by the bank. The other is the publication ... of Birkenfeld's scathing new book, Lucifer's Banker, which covers his time at UBS. The tax evasion controversy, which was first highlighted in 2005, subsequently involved the US Department of Justice, the State Department and Internal Revenue Service. It was prompted by disclosures made by Birkenfeld that UBS had helped wealthy US citizens evade taxes. In 2009, UBS paid $780m (Ł588m, €693m) to US authorities to avoid prosecution. Birkenfeld served 31 months in prison for one count of conspiracy to abet tax evasion by one of his clients. After he was released he was paid a record $104m by the IRS for helping recover unpaid taxes. However, Birkenfeld has since said that he was systematically prevented from giving testimony in open court – but this may be about to change thanks to the French authorities. Birkenfeld claims the UBS coverup stretches to the highest levels of the US establishment. He promises four big names will be exposed in his book, [and] claims there was a glaring conflict of interest involving then Senator Barack Obama, which essentially placed him on the UBS payroll.
Note: Read a New York Times article on how this courageous whistleblower managed to beat the system. As a result of Birkenfeld's disclosures, Obama's suspicious ties with UBS were reported in 2010. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.
AT&T runs a secret program called Project Hemisphere that that searches millions and millions of call records and analyzes cellular data to help law enforcement spy on Americans, according to documents obtained by The Daily Beast. Police use the data to solve crimes by monitoring if specific cellular towers in the vicinity of wrongdoings picked up a known suspect’s cell phone. The surveillance project comes to light as the company is on the verge of acquiring Time Warner in one of the biggest media mergers in memory. Law enforcement agencies pay from $100,000 to over $1 million a year for Hemisphere access. Back in 2013, The New York Times called Hemisphere a partnership between AT&T and the government, but Daily Beast says it’s actually “a product AT&T developed, marketed, and sold at a cost of millions of dollars per year to taxpayers.” No warrant is required to access Hemisphere, but it does require a promise not to publicly disclose Hemisphere. AT&T owns significant shares in both the landline and cell phone space, which allows the company to possess information that is used by at least 28 intelligence centers. Documents show that AT&T wants to keep Hemisphere a secret, but suspects and anyone charged with a crime have the right to know the evidence against them. “The Government agency agrees not to use the data as evidence in any judicial or administrative proceedings unless there is no other available and admissible probative evidence,” documents obtained by the Beast said.
Mexican immigrants who speak little English. Older adults with memory problems. College students opening their first bank accounts. Small-business owners with several lines of credit. These were some of the customers whom bankers at Wells Fargo, trying to meet steep sales goals and avoid being fired, targeted for unauthorized or unnecessary accounts, according to legal filings and statements from former bank employees. “The analogy I use was that it was like lions hunting zebras,” said Kevin Pham, a former Wells Fargo employee in San Jose, Calif., who saw it happening at the branch where he worked. “They would look for the weakest, the ones that would put up the least resistance.” Wells Fargo would like to close the chapter on the sham account scandal. But lawmakers and regulators say they will not let it go that quickly, and emerging evidence that some victims were among the bank’s most vulnerable customers has given them fresh ammunition. This week, three members of the Board of Supervisors in San Francisco, Wells Fargo’s hometown, introduced a resolution calling on the city to cut all financial ties with the bank. They cited both the recent scandal and past cases — particularly the $175 million that Wells Fargo paid in 2012 to settle accusations that its mortgage brokers had discriminated against black and Hispanic borrowers. Current and former Wells Fargo employees say the problems continued well into this year.
Note: For more along these lines, see concise summaries of deeply revealing banking corruption news articles.
As Hurricane Matthew churned toward Haiti at full force last week, France Francois knew she was powerless to stop the impending natural disaster. But with time running out, the 30-year-old Haitian American thought she might be able to help the island nation avoid the man-made disaster that she expected to follow. Before the storm struck, Francois, a former development worker in Haiti, turned to Facebook and composed a list explaining how people could help the hurricane-ravaged country. Her first instruction: "Don't give to the American Red Cross." Instead, she wrote, people should send money to "Haitian-led" organizations and "not your missionaries and useless college kids." Her post has been shared thousands of times — in part, she believes, because it tapped into a growing consensus among Haitians and Haitian Americans that the American Red Cross can no longer be trusted to effectively manage humanitarian efforts in the Caribbean nation. Those feelings have been bolstered by a widely circulated investigation by NPR and ProPublica, which found that the Red Cross grossly mismanaged its response to Haiti's 2010 earthquake. Speaking to reporters Friday, President Obama told Americans to help Haitians by going "to the American Red Cross," reiterating a standard relief message that exasperates many in the global Haitian community. But it appears that trust in the organization may be eroding.
Note: For lots more on corruption in the Red Cross, see this series of NPR articles. NPR shows that the Red Cross spent 1/4 of all donations to help Haiti on "internal expenses." For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
Atrazine [is] the second most commonly used herbicide in the United States. [It] is mainly used to control weeds in the corn blanketing much of the Midwest. The chemical also routinely turns up in streams and drinking water. And according to a new Environmental Protection Agency preliminary risk assessment, it may be doing serious harm to fish, animals, and amphibians, even at extremely low exposure levels. In the areas where it is most commonly used, mainly the Midwestern corn belt, atrazine turns up in the environment at rates that exceed established levels of concern "by as much as 22, 198, and 62 times for birds, mammals, and fish, respectively," the report concluded. The European Union banned atrazine in 2004, citing its potential to contaminate water and harm ecosystems. And this latest EPA report suggests the US government might also consider reining in use of the chemical. But probably not anytime soon. Back in 2011, the EPA released the final deliberations by a panel of independent scientists it had convened to address the topic. The panel found that atrazine had "suggestive evidence of carcinogenic potential" for ovarian cancer, non-Hodgkin's lymphoma, hairy-cell leukemia, and thyroid cancer. A recent paper by Texas A&M and Iowa State University researchers looked at research published since 2000 and concluded that "higher concentrations of atrazine in drinking water" have been associated with a variety of birth defects in people.
Note: With US regulators in its pocket, agrichemical giant Syngenta did everything in its power to discredit atrazine researcher Tyrone Hayes after Hayes published science proving that Syngenta's products were poisonous. The New Yorker published a detailed article on Syngenta's smear campaign. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and health.
The scale of sexual harassment and gender violence by UK university staff has been likened to the scandals involving the Catholic church and Jimmy Savile in accounts shared by more than 100 women with the Guardian. Their stories – including those of verbal bullying, serial harassment, assault, sexual assault and rape – expose an alarming pattern of abuse and harassment in British universities which remains largely hidden. Many women said they had not pursued complaints for fear of jeopardising their academic careers. Those who did complain said they felt isolated and unprotected, while the more powerful men they accused appeared to be untouchable. The women’s accounts follow an exclusive Guardian report on the use of non-disclosure agreements in university sexual harassment cases. Jennifer Saul, professor of philosophy at the University of Sheffield and an expert on sexual harassment in higher education, said she was not surprised by the ... stories: “There’s a systemic problem. Too often, victims are afraid to come forward for fear of retaliation. “When they do come forward, often they are brushed off or not believed. When they are believed, their allegations are still often dismissed as unprovable. Even when things are taken more seriously, harassers are generally allowed to leave quietly, which enables them to move some place else and do the same thing.” Many of the women who made complaints ... felt they were the ones on trial.
Using the playbook of Mylan, Turing and, well, their own company, Valeant Pharmaceuticals has hiked the price of yet another life-saving treatment to astronomical values. This time, it’s calcium EDTA, a lead poisoning treatment that cost US hospitals and poison control centers about $500 for a packet of six ampules (6 grams) before 2012, when Valeant acquired the drug. Poison control experts now say that US centers pay about $5000 per gram for the drug, compared to $15 per gram for Canadians. In a 6-year period ... Valeant increased the US price of the drug by as much as 7200%. Two physicians - Michael Kosnett from the University of Colorado School of Medicine and Timur Durrani at the University of California, San Francisco (UCSF) - expressed their concerns about these price hikes in a letter to U.S. Rep. Elijah Cummings (D-Md), the ranking member of the House Committee on Oversight and Government Reform. According to Kosnett and Durrani, the average price per milliliter for the drug went from $18.57 in 2008 to $1346.37 in 2014. U.S. hospitals have no other source for calcium EDTA. Most of those who develop acute lead poisoning are children. The effects of lead poisoning are lasting and profound. Calcium EDTA is on the World Health Organization’s Model List of Essential Medicines, which lists medications that are most critical for a healthcare system to have on hand.
Note: For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.
Hillary Clinton took nearly every precaution to ensure voters would never know what she told investment bankers, lobbyists and corporate executives in dozens of closed-door paid speeches before running for president. Turns out, the Democratic presidential nominee had good reason to do so. She is ... happy to cut backroom deals with corporate interests and curry favor with Wall Street for campaign dollars. The WikiLeaks organization on Friday posted ... emails obtained in a hack of the Clinton campaign chairman’s personal email account. Among the documents posted online was an internal review of the speeches conducted by campaign aides to survey the political damage her remarks could cause if they ever became public. In what aides calculated were the most damaging passages, she reflects on the necessity of “unsavory” political dealing. To investment bankers from Goldman Sachs and BlackRock, Clinton admits that she’s “kind of far removed” from the middle-class upbringing that she frequently touts on the campaign trail. And in speeches to some of the country’s biggest banks, she highlighted her long ties to Wall Street ... saying that she views the financial industry as a partner in government regulation. In an effort to keep those speeches private, strongly worded contracts prohibited unauthorized recordings, reporters were banned and, in some cases, blog posts about her remarks pulled off websites.
Note: BBC has an article listing 11 intriguing revelations from the recent Wikileaks release. The emails also showed discussion of the Clinton campaign's interest in "elevating" Trump and other 'extreme' Republican candidates to make the party's eventual nominee 'unpalatable'. In 2013 alone, Clinton received $2.3 million for delivering these speeches. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.
Super PACs seeking to influence the 2016 elections have collected more than $1 billion, a record haul driven by jumbo-sized contributions from rich donors on both sides of the aisle. Just 10 mega-donor individuals and couples contributed nearly 20 percent of the $1.1 billion raised by super PACs by the end of August. The total exceeds the $853 million that super PACs collected in the entire 2012 cycle. The top givers were split roughly equally along party lines, with five Republicans, four Democrats and one independent. Together, super PACs seeking to sway the White House and congressional races have pumped more than $674 million into TV ads and other outreach through September, filings show. By the end of the 2012 elections, such groups had spent $608 million. The figures illustrate how American campaigns have been reordered by the ability to give unlimited sums to political committees. In the six years since the Supreme Court’s Citizens United v. Federal Election Commission decision created new paths for massive contributions to flow into elections, a tiny sliver of donors with immense financial capacity have rushed to participate. Along with the $1.1 billion raised by super PACs, hundreds of millions more has been directed into politically active nonprofits on both sides of the aisle that can keep the names of their contributors secret. The huge sums washing through campaigns are contributing to a growing estrangement between voters and the political system.
Note: Read more about how ghost corporations are funding the 2016 elections. For more along these lines, see concise summaries of deeply revealing elections corruption news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.
Yahoo has been accused of secretly building a customised software programme to search all of its customers’ incoming emails for specific information provided by US intelligence officials. The company complied with a classified US government directive, scanning hundreds of millions of Yahoo Mail accounts at the behest of the National Security Agency or FBI. Reuters said that a number of surveillance experts said this represented the first case to surface of a US Internet company agreeing to a spy agency’s demand by searching all arriving messages, as opposed to examining stored messages or scanning a small number of accounts in real time. The agency also said it was unable to determine what data the company had handed over, and if the intelligence officials had approached other email providers besides Yahoo. US phone and Internet companies are known to have handed over bulk customer data to intelligence agencies. But some former government officials and private surveillance experts said they had not previously seen either such a broad directive for real-time Web collection or one that required the creation of a new computer program. “I’ve never seen that, a wiretap in real time on a ‘selector’,” said Albert Gidari, a lawyer who represented phone and Internet companies on surveillance. A selector refers to a type of search term used to zero in on specific information. He added: “It would be really difficult for a provider to do that.”
Unpublished field trials by pesticide manufacturers show their products cause serious harm to honeybees at high levels, leading to calls from senior scientists for the companies to end the secrecy which cloaks much of their research. The research, conducted by Syngenta and Bayer on their neonicotinoid insecticides, were submitted to the US Environmental Protection Agency and obtained by Greenpeace after a freedom of information request. Neonicotinoids are the world’s most widely used insecticides and there is clear scientific evidence that they harm bees at the levels found in fields. Neonicotinoids were banned from use on flowering crops in the EU in 2013, despite UK opposition. The newly revealed studies show Syngenta’s thiamethoxam and Bayer’s clothianidin seriously harmed colonies at high doses, but did not find significant effects below concentrations of 50 parts per billion (ppb) and 40ppb respectively. Such levels can sometimes be found in fields. However, scientists said all such research should be made public. “It is hard to see why the companies don’t make these kinds of studies available,” said Prof Dave Goulson, at the University of Sussex. “It does seem a little shady to do ... the very studies the companies say are the most important ones - and then not tell people what they find.” Syngenta had told Greenpeace in August that “none of the studies Syngenta has undertaken or commissioned for use by regulatory agencies have shown damages to the health of bee colonies”. Goulson said: “That clearly contradicts their own study.”
Note: CNN News reported in 2010 that Bayer covered up the link between its products and massive bee die-offs. Read more about how these pesticides sicken bees and harm food crops. For more along these lines, see concise summaries of deeply revealing food system corruption news articles from reliable major media sources.
It's rare to get a glimpse behind the curtain of pharmaceutical marketing. CBC [has] learned about a stealth marketing campaign involving a drug company, a well-known Canadian comedian, a doctor and a public relations firm. "Cathy Jones of This Hour Has 22 Minutes is on a mission to get women to start talking about female sexual health after menopause - and particularly, their vaginas," wrote PR company GCI Group in a press release, offering to arrange an interview. But nowhere did it say this "mission" was initiated and sponsored by Novo Nordisk Canada Inc., which makes a vaginal hormone pill. Nor did GCI's release specify that Jones was paid to give media interviews about vaginal atrophy. When CBC asked if there was a drug company involved, the PR firm said yes, Novo Nordisk, but that was to be kept secret. "No parties including GCI want any mention of the drug or drug company," CBC was told. "It's an unbranded campaign." In other words, it's marketing that looks like any other lifestyle article in news. This is what it looks like on the Globe and Mail's website. There was originally no mention of Novo Nordisk sponsoring the campaign. Is it OK for a drug company, behind a curtain, to generate news about a condition and then encourage women to see their doctor? "No, it is not OK," says Dr. Jerilynn Prior [with] the University of British Columbia. "It is misrepresenting the marketing purpose behind it." This is a rare public example of something that happens all the time.
In his 93 years, Bob Wallace has seen some product-pricing doozies over the decades, but the nonstop national furor over the stratospheric price hikes for EpiPens - now retailing above $700 for a two-pack - was the final shot. Wallace and Roland Krevitt, a veteran Scotts Valley manufacturing and tooling consultant, set out to demystify the cost to produce the EpiPen, piece by piece. The auto-injector delivers a lifesaving dose of adrenaline to treat serious allergic reactions to everything from bee stings to food. [They crunched] the costs for molding and manufacturing the nozzle, needle, syringe, springs, safety cap - and 0.3 mg of epinephrine. Their startling estimate of the cost for a two-pack of EpiPens: $8.02. And that even included the bright-yellow box. The pharmaceutical giant Mylan is the latest drugmaker to withstand a public lashing over skyrocketing drug prices. While politicians and patients demand explanations ... policy experts and drug makers blame an American health care system built on an ever-expanding pool of middlemen whose piece of the action is driving up the final bill. [Mylan’s] chief executive, Heather Bresch, recently told a congressional committee her company pays $69 per two-pack to the firm that actually manufactures the EpiPen, [and] pointed to charts explaining why the company charges a $608 wholesale price for a two-pack. The Wall Street Journal ... reported last week that Mylan low-balled its calculation of EpiPen profits to Congress.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.