Over the last six years, the drug maker has earned hundreds of millions in tax credits that have lowered its already very low tax rate and raised its overall bottom line.
According to Reuters, the credits helped Mylan lower its tax rate to just over four percent in 2014 and to 7.4 percent in 2015.
In e-mailed comments to Ars, Mylan verified that the numbers and information in Reuters’ report were accurate.
A group of shareholders, frustrated by the EpiPen pricing scandal and board members’ eye-popping compensation packages, has been working to rally other shareholders to unseat the current board.
Last week, independent advisory firm Institutional Shareholder Services (ISS), which advises shareholders on how to vote, also urged Mylan’s investors to oust the board, as well as the compensation committee members.
New York City Comptroller Scott Stringer, who oversees New York City pensions that own more than 1.1 million shares of Mylan, is leading the campaign against Mylan’s current board.