Mylan Will Release Generic EpiPen
After a staggering amount of criticism over the EpiPen’s major price increase, pharmaceutical company Mylan decides to meet demand by releasing a generic version of the device.
The pen, which is a life-saving allergy injector, had a recent price increase that skyrocketed 400%, making it $608 for a pack of two. This made it impossible for those without insurance coverage to be able to purchase the product.
Last week, after Mylan NV CEO Heather Bresch received a whirlwind of outrage, and the company was accused of price-gouging, she attempted to defend the price. She stated that Mylan only receives a third of the revenue per twin-pack, and that pharmacies, insurers, etc. get the remaining amount made from each purchase. Hence the increase in cost.
The company has now announced their decision to manufacture a generic product after the pressure from a compounding pharmacy, Imprimis Pharmaceuticals, left them feeling threatened. Imprimis said they may eventually sell their own version of the allergy treatment for just $100 for a two-pack, out of concern for those whose lives depend on the device.
The added competition in the field pressured Mylan to maintain their demand by offering the generic at two for $300. This version should be available in the next several weeks and will be identical to the brand form of EpiPen.
Source: The New York Times