Mylan set to offer epinephrine at half the price of EpiPen
I n a n o t h e r m o v e t o quell outrage over its price increases, the maker of the EpiPen said Monday that it would introduce a generic version of the product, with a price about half of the existing EpiPen’s.
T h e c o mpany, Myl a n , said that the generic EpiPen would be available in several weeks and be identical to the existing product, which is used to treat severe allergic reactions. But it would have a wholesale list price of $300 for a pack of two, compared with just above $600 for the existing product.
Under pressure, Mylan announced last week that it would increase the fifinancial assistance it provided to commercially insured patients to help with their out- ofpocket costs. It also said it would broaden the eligibility for uninsured patients to receive free products.
Those two measures did not stem the public furor, in part because the company kept the list price the same, meaning the overall cost to the health system, mostly borne by insurers and taxpayers, would remain the same.
The introduction of the generic comes in addition to those other measures, which will remain in effffffffffffect, Mylan said.
“We understand the deep frustration and concerns associated with the cost of the EpiPen to the patient, and have always shared the public’s desire to ensure that this important product be accessible to anyone who needs it,” Heather Bresch, chief executive of Mylan, said in a statement.
The new move could help mollify critics, although some are likely to point out that even at $300, the generic would still be triple the price of the EpiPen in 2007, when Mylan acquired the product and began steadily raising its price from around $100 for a pair.
Critics might also wonder why the company just does not reduce the price across the board rather than introduce an identical generic.
The company suggested in its news release that the move required an agreement from its manufacturing partner, Pfifizer. The company also said last week that merely reducing the list price of the drug would not necessarily mean that patients would pay less, since the out-of-pocket costs for patients are set by pharmacy benefifit managers and insurers.