Mylan, Feeling Heat on EpiPen Price, Will Offer Cheaper Generic
August 29 2016 - 8:10AM
Dow Jones News
Mylan NV on Monday said it would launch a generic alternative to
EpiPen at a 50% discount after being criticized for dramatically
raising the price of the lifesaving drug.
The company said it would list the authorized generic—which will
be identical to the branded product—for $300 per two-pack carton.
Mylan said it expects to launch the generic in "several weeks,"
after labeling revisions.
"We understand the deep frustration and concerns associated with
the cost of 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," said Chief Executive Heather Bresch.
She said bypassing the brand system and offering an additional
alternative was the best option "because of the complexity and
opaqueness of today's branded pharmaceutical supply chain and the
increased shifting of costs to patients as a result of high
deductible health plans."
EpiPen, whose list price has climbed nearly 550% over eight
years, dominates the more than $1 billion market to treat serious
allergic reactions because of Mylan's effective marketing and
lobbying, aggressive defense of its turf and the relatively high
costs of manufacturing such sterile injections, analysts say.
A backlash over Mylan's pricing tactics is shedding light on its
grasp of the market. On Thursday, after politicians, physicians and
lawmakers criticized the price of EpiPen, Mylan offered to provide
more financial help to patients, saying it would cover their
insurance out-of-pocket costs up to $300, from $100 previously. It
also said it would expand the number of low-income patients
eligible to receive company subsidies.
Since acquiring the rights to sell EpiPen in late 2007, Mylan
has increased the list price of a pack of two to $608.61.
Write to Anne Steele at Anne.Steele@wsj.com and Jonathan D.
Rockoff at Jonathan.Rockoff@wsj.com
(END) Dow Jones Newswires
August 29, 2016 07:55 ET (11:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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