EpiPen Maker Mylan Launches Generic Version for $300 Per Two-Pack
The $300 price is a discount of more than 50 percent
Mylan has fulfilled its promise to provide a generic version of life-saving allergy treatment EpiPen.
Reuters reports that the pharmaceutical company is now selling a generic version of the treatment for $300 per two-pack of auto-injectors, a discount of more than 50 percent.
The drug maker has experienced great unrest in 2016. The drastic 400 percent increase in the price of the EpiPen over the past nine years led to an outcry from the public and lawmakers alike. Consumers have been trying to find less expensive alternatives, while Mylan CEO Heather Bresch was called before Congress to answer questions regarding the price hikes.
Mylan bowed to the increasing pressure by promising to produce cheaper generic version of the treatment and to expand various savings programs to help consumers save money. It did not, however, lower the price of the EpiPen.
The company said that its new generic would be available for purchase in pharmacies beginning next week.
The launch occurs just one day after 20 states filed a pricing-related lawsuit against several generic drug makers, including Mylan and Teva Pharmaceuticals. The U.S. Justice Department has filed criminal charges against two executives in the generic drug industry, claiming that they colluded in order to fix prices and split market share.
These cases are one part of a wider probe into the prices of generic drugs currently underway at the state and federal levels and in the U.S. Congress. Media reports regarding drastic increases in drug prices resulted in Congressional hearings in 2014.
The company has also been criticized for classifying the EpiPen as a generic, leading to the company paying much smaller rebates to state Medicaid programs than it would have if it had classified it as a branded product.
In October, Mylan agreed to pay $465 million to settle questions regarding the impact made on federal government healthcare costs by the classification.
The company stated earlier this month that it plans to cut less than 10 percent of its workforce in order to integrate acquisitions.