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Jim Cramer: The Pharmaceutical 'Good Guys' Need To Stand Up

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Jim Cramer: The Pharmaceutical 'Good Guys' Need To Stand Up

Jim Cramer is no fan of Mylan NV (NASDAQ: MYL) and how it handled the EpiPen controversy.

Cramer ranted on Thursday's "Squawk Box" that EpiPen has to be a "much bigger source" of Mylan's profit than the company is letting on and he would like to see the company's actual profit and loss breakdown.

As to the actual controversy itself, in which Mylan boosted the price of EpiPen on a constant basis over the years, Cramer said the controversy could have been "dropped very quickly" by "cutting the price immediately."

Related Link: Controversy Pullback Offers Good Entry Point For Mylan

Cramer went on to discuss Allergan plc Ordinary Shares (NYSE: AGN) CEO Brent Saunders, who has taken a leadership role in improving the image and accountability of drug companies.

Saunders detailed four key principles which he believes forms a "social contract" with stakeholders ranging from shareholders to patients.

Specifically, Cramer said he is "bothered" by the fact that Saunders appears to be an outlier in the pharmaceutical industry and executives across many other companies should have joined forces to sign on to Saunder's principles and declare "we are not Mylan."

"Why didn't they sign?" Cramer continued. "They should sign. It's really embarrassing. It's quite embarrassing these other guys didn't sign. This is a social contract that they have with the country."

Cramer also pleaded to the "good guys" in the pharmaceutical companies to "stand up and admit they are good guys - or maybe they are not."

 

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