The new move could help mollify critics, though some are likely to note 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 about $100 a pair.
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I don’t pretend to be an expert on the intricacies of the USA healthcare system. That is half the list price for the branded product, which costs $608 for a two-pack, but it is still almost $40 more than the price three years ago, according to data from Truven Health Analytics.
She also said middle men increase the cost of providing the auto-injectors to consumers, so Mylan gets less than half of the $608 list price.
So to aid them, Mylan on Monday announced to bring out a generic version of the EpiPen for those unable to afford presently available medication.
The new product will be identical to the popular EpiPen, which is used to treat severe allergic reactions, but cost only $300 for a package of two – half the list price of the original.
“What has happened here under Mylan’s watch is unconscionable”, O’Toole said.
“The EpiPen, however, has become so exorbitantly expensive that access to this life-saving combination product is in jeopardy for many Americans”, they wrote.
Information requested by the lawmakers includes how many customers use Mylan’s savings card to purchase EpiPens, how the company’s patient assistance program works and how the company partners with schools.
According to CNN Money, Teva Pharmaceuticals is expected to launch their own generic version of the EpiPen next year, which would create additional market competition. The generic has been developed after the manufacturer increased the price of the EpiPen by more than 500% in recent years.
Some politicians have called for: Congressional hearings on the escalating pricing, an investigation by the Federal Trade Commission, and action by the U.S. Food and Drug Administration to increase competition by hastening approvals of competitors’ products, the AP reported. It has also come up with other ways for lowering uninsured costs.
Health insurance doesn’t necessarily help all people who need EpiPens, because those with high deductibles must pay nearly the total price. People with high-deductible plans, who have to pay out thousands of dollars before insurance kicks in, could face the full price.
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Shares of Mylan NV slipped 34 cents to $42.69 in morning trading Monday, while broader indexes rose slightly.
