The estimated cost for the only generic epinephrine two-pack auto injector now on the market, according to GoodRx, ranges between $140 and $379, even with a coupon.
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The senators, which included Sens. Critics accused the Canonsburg, Penn., drugmaker of price gouging, a charge rejected by Mylan CEO Heather Bresch, who blamed the controversy on health insurers.
However, Hoadley said, Mylan’s cost increase is a “symptom of some of the issues that we’re dealing with” in the larger prescription-drug market as a whole, where cost hikes of drugs have been linked by some to companies using “market leverage”.
The generic, which the company said will be launched “in several weeks”, will carry a list price of $300 for a two-pack carton.
Democrat Elizabeth Warren and 19 other US senators voiced concern to the chief executive of Mylan NV (MYL.O) about the high cost of its EpiPen on Tuesday, calling the device used in the case of life-threatening allergies “exorbitantly expensive”.
The price of the emergency injection devices meant to treat severe allergic reactions climbed to more than $600 for a two-pack – a more than 500% increase since the drug was acquired by Mylan.
Consumer groups are busily signing petitions to delivery to Mylan’s U.S. headquarters to protest the prices of this life-saving drug, upset as they are by both the enormous branded price and the generic price.
Mylan, which mainly sells generic medicines, said Monday it will begin selling its generic version for $300 for a pair of EpiPens, in doses for adults or children, like the current EpiPens. “In turn, those costs are eventually passed on to consumers in the form of higher premiums”.
A generic competitor was expected in 2015 but has been delayed.
State Sen. Kevin O’Toole announced Friday that he will introduce a bill that will provide tax incentives to New Jersey retailers who keep EpiPen costs at $100. Not surprisingly, lawmakers voted to expand the scope of users for the device to include recreational and educational camps, colleges, daycares, youth sports league and elsewhere. However, the difference in pricing comes down to the way the drug is administered, making a $15 commercial option “really challenging”. They also ask about how Mylan plans to ensure consumers can access the generic, through patient assistance programs or otherwise.
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Shares of Mylan NV slipped 34 cents to $42.69 in morning trading Monday, while broader indexes rose slightly.
