The timeliness of Mylan’s ‘unapologetic’ $465M settlement
Company stock surged late Friday after a deal with the feds was announced. The weekend’s unsavory political headlines may have deflected the spotlight from the EpiPen manufacturer.
When word came late Friday that Mylan would pay the U.S. Department of Justice $465 million for the misclassification of its EpiPen autoinjector, company strategists had no idea what was to come.
Yes, the tweets and news coverage announcing the settlement hit social media just as the week was drawing to a close. Crisis communicators understand that timing is a significant factor in PR.
ABC News was one of many news outlets to cover the story:
The federal government says EpiPen is a branded drug, which means Mylan should have been paying it a far higher rebate under the government’s complex pricing rules.
Mylan said Friday the proposed settlement resolves all potential federal and state government claims. It also finds no wrongdoing on the part of the England-based company.
Following the announcement, the company’s stock jumped 9 percent in after-hours trading.
Mylan issued a press release. The second sentence read:
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