EpiPen manufacturer will be a no-show at Senate hearing

Markets Associated Press

Senate Judiciary Chairman Charles Grassley says pharmaceutical company Mylan is declining to testify at his committee's hearing next week on a settlement between the company and the Justice Department over its life-saving Epi-Pen.

Continue Reading Below

Grassley on Monday released a letter from an attorney for Mylan saying officials would not testify. The Nov. 18 letter said company executives wouldn't testify because the settlement is a pending matter and the Justice Department would also not be attending.

Mylan will pay $465 million to settle allegations that it overbilled Medicaid for EpiPen. At issue was whether the product should have been classified as generic under a Medicaid program.

The list price of EpiPens had grown to $608 for a two-pack, an increase of more than 500 percent since 2007.