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Mylan has come under fire for sharply increasing the price of
EpiPen and classifying the life-saving treatment as a generic
rather than a branded product, which led to much smaller rebates
to state Medicaid programs. Mylan faces multiple investigations.
"All incumbent directors should be considered accountable for
material failures of risk oversight over a number of years, when
warning signs were available to (Mylan) but no actions appear to
have been taken," ISS said in a report, citing an erosion in
"shareholder value" as a result of the EpiPen controversy.
ISS recommended that shareholders vote against ten of Mylan's
director nominees including CEO Heather Bresch, President Rajiv
Malik and Chairman Robert Coury.
The proxy firm, however, backed new director nominee Sjoerd
Vollenbregt.
Mylan met with ISS last week and discussed the role of Coury in
growing the company, and defended his compensation, which was
more than $97 million in 2016.
(Reporting by Natalie Grover in Bengaluru; Editing by Sai Sachin
Ravikumar)
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