Monday, August 29, 2016
Associated Press
The maker of EpiPens will start selling a cheaper, generic version of the emergency allergy shots as the furor over repeated U.S. price hikes continues – and looming competition threatens its near-monopoly.
Despite its second move in five days to make EpiPens more affordable for consumers, maker Mylan N.V. still faces condemnation from critics who accused it of price-gouging. They note Mylan hasn't reduced the $608 list price for a pair of EpiPen auto injectors or explained why it hiked the price more than 500 percent from $94 after acquiring the product in 2007.
"More must be done – and more quickly – to make this life-saving drug more affordable," Sen. Richard Blumenthal, D-Connecticut, said in a statement today. "Mylan may appear to be moving in the right direction, but its announcement raises as many questions as solutions – including why the price is still astronomically high, and whether its action is a pre-emptive strike against a competing generic."
Mylan, which mainly sells generic medicines, said today it will begin selling its generic version for $300 for a pair of EpiPens, in doses for adults or children, like the current EpiPens. That will still bring Mylan tens of millions of dollars while helping it retain market share against current and future brand-name and generic competition.
"We need real competition to lower drug prices, not corporations offering generic versions of their own drugs for whatever price they want," Sen. Bernie Sanders, D-Vermont, wrote in a Twitter post.
EpiPens are used in emergencies to stop potentially fatal allergic reactions to insect bites and stings, and foods like nuts and eggs. People usually keep multiple EpiPens handy at home, school or work, but the syringes, prefilled with the hormone epinephrine, expire after a year.