New York comptroller says weak Mylan board fosters EpiPen "debacle"
Sept 1 (Reuters) - New York City's comptroller on Thursday criticized "exorbitant" price increases for Mylan NV's EpiPen device and said weak board oversight of management decisions had undermined the company's reputation and stock price.
"Mylan's gross mismanagement of its EpiPen pricing strategy exacerbates the company's protracted history of weak board oversight," Comptroller Scott Stringer said in a letter to Mylan board member Douglas Leech. Stringer said the $163 billion in pension funds he manages for the city include 1,059,357 shares of Mylan common stock worth about $45 million.
(Reporting by Ransdell Pierson)
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