Mylan (NASDAQ: MYL) has been at the center of a public relations disaster this year. The drugmaker came under intense pressure for increasing the price of its EpiPen auto-injector by close to 500% during the past decade. Then came allegations that Mylan overcharged Medicare.
The latest incident in the saga was the company’s refusal to testify at a Senate hearing. Perhaps snubbing the Senate made sense. But is Mylan being really smart — or just really arrogant?