Mylan’s announcement this morning (launching a generic Epipen) reads like a bold move.
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Mylan will start selling a cheaper version of its EpiPen after absorbing waves of criticism over a list price for the emergency allergy treatment that has grown to $608 for a two-pack, making it unaffordable for many patients. Upon launch, the product will be available as a two-pack carton in both 0.15 mg and 0.30 mg strengths.
“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”. “We can not rely on public outcry as the only solution to high prescription drug prices”. “They’re price-gouging and whatnot, but it just seems like all of our health care costs have increased dramatically”. However, outside experts have said few families will benefit from that discount program.
Democratic senator Amy Klobuchar echoed the call for an investigation. “Our decision to launch a generic alternative to EpiPen is an extraordinary commercial response, which required the cooperation of our partner”, Mylan CEO Heather Bresch said in a statement. He said he expected the stock would respond in a neutral to positive way to the news.
A Kaleo spokesman said last week that the company continues “to evaluate timing and options for bringing Auvi-Q/Allerject back to market”.
“It’s outrageous. People shouldn’t be fooled by the idea that the system made them do it. Mylan is to blame for the high prices of EpiPen”, Maris said.
Sanofi has pulled its device from the market, and Teva Pharmaceutical Industries was forced to delay the launch of its version, leaving Mylan an open field. Shares are up 1.15 percent at the time of this writing on the announcement but is it a game-changer for those who desperately need the product but are not super rich or super poor and on Medicaid which has zero copays (at least in NY state) and therefore can not afford (despite the implementation of the AFFORDABLE Healthcare Act) many years ago? The company has come under scrutiny in recent weeks after news surfaced that the price of a two-pack EpiPen has soared, rising from approximately $100 in 2009 to around $600 and more today, according to medical literature and various pharmacies nationwide.
While the cost-saving measures announced a week ago would largely benefit consumers, the latest plan to bring out a low-priced generic alternative would be a financial boon to insurers and federal health programs including Medicare and Medicaid.
Khan said the price of EpiPens and other medications typically has increased year over year, and she’s heard payment problems from patients in the past.
The measure, which was signed into law in 2013, encourages schools to keep EpiPens and other emergency supplies of epinephrine available to children who suffer allergic reactions. The drug can be administered quickly by jabbing the EpiPen into a patient’s thigh. “And the soaring costs that patients are now facing for EpiPen Auto-Injectors is cause for alarm”. When there was, the generic cost 82 percent of the brand-name price, the FTC said.
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Usually drug companies offer generic brands when another company produces a generic version.
