CEO tapped by Trump to make generic drugs during pandemic has a dicey track record
As the chief executive of Phylo, the new company awarded $354 million by the federal government this week to make generics that are in short supply during the pandemic, Eric Edwards maintains his business is a public benefit corporation. Besides generating a profit, Phlow is supposed to serve a greater good.
But in his last role in the pharmaceutical industry, Edwards fell short of benefiting the public, at least according to a U.S. Senate subcommittee report released in 2018. Kaleo, a company Edwards founded with his twin brother, jacked up the price of its Evzio opioid overdose antidote by more than 600% over between 2014 and 2017, which cost U.S. taxpayers more than $142 million.
