And the company says that the generic version will be classified in such a way that pharmacists can substitute the chemically identical version for the name brand without having to consult the prescribing physician.
Advertisement
On Monday, Reps. Jason Chaffetz, R-Utah, and Elijah Cummings, D-Maryland, heads of the House Committee on Oversight and Government Reform, wrote to Mylan CEO Heather Bresch, requesting documents and communications regarding Mylan’s revenues from EpiPens since 2007, manufacturing costs and how much Mylan receives from federal health care programs.
While the cost of two generic injectors of the emergency allergy drug will still be pricey at $300, Mylan has been facing severe criticism for the $600 price tag for a pair of EpiPens.
Mylan expects to launch the product in the next several weeks.
Mylan has attracted scrutiny for increasing the treatment’s price 400% in nine years – EpiPen cost $57 for a single pen when the drugmaker bought it in 2007.
After controversy over massive price hikes, Mylan, the company that sells EpiPen, has announced a generic version.
EpiPen has a 94 percent market share for auto-injector devices, which jabs a dose of the drug epinephrine into the thigh to counter risky allergic reactions such as to peanuts, food allergies and bee stings.
Consumer watchdog group Public Citizen said Mylan’s latest move was another “convoluted mechanism to avoid plain talk”.
“Your company made EpiPen its first billion-dollar product, generating $1.19 billion in sales revenue for the company’s specialty drug segment in 2014”.
Requests for comment from Mylan Pharmaceuticals were not immediately returned. This morning, CT U.S. Senator Richard Blumenthal, a former state Consumer Advocate, said he will go ahead with hearings and still wants an FTC investigation. Now that product and a couple rival brand-name ones could hit the US market in mid- to late 2017. That assistance also will be offered to people getting Mylan’s generic EpiPens, but the $300 copay cards will only work with brand-name EpiPens.
Advertisement
Mylan shares closed up 0.4 percent at $43.22 on the Nasdaq, amid a moderate upturn for the broader stock market.
