The move comes one day after Hillary ClintonHillary Rodham ClintonTrump aide on immigration plan: No amnesty, no sanctuary cities EpiPen maker lowers price after uproar Chelsea Clinton to stay on family foundation board MORE denounced the company for hiking the cost of EpiPens 400 percent in recent years.
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Price of the product, which Mylan acquired in 2007, has zoomed to $600 from $100 in 2008.
“We recognize the significant burden on patients from continued, rising insurance premiums”, said Mylan CEO Heather Bresch in the release.
When asked why the price of EpiPen increased so dramatically over the years, Bresch, who is the daughter of Senator Joe Manchin of Virginia, blamed “the system” which needs to be “fixed”.
However, it is Mylan that is increasing the price of the drug and the company stuck by those price hikes Thursday.
EpiPens are used in emergencies to treat severe allergies that can lead to anaphylactic shock.
Today, Mylan said it would increase the value of coupons to up to $300 for people with high-deductible health plans, who face considerable out-of-pocket costs.
The company is also doubling the eligibility for its patient assistance program, which eliminates out-of-pocket costs for uninsured and underinsured people.
Pharmaceutical and biotech industries can fuel American innovation, and combat debilitating diseases, Clinton said in the statement Wednesday.
Patients will also be able to order the injected emergency medicine for severe allergic reactions directly from the company, to help lower costs, Mylan said.
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EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company for use by severe allergy sufferers are seen in Washington, U.S. August 24, 2016. Families of four with a household income of $97,200 or less can apply to receive the EpiPen two-pack for free. That brought in sales of almost $1.7 billion for Mylan.
