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The company will launch a generic version of EpiPen at the price of $300 for a two-pack.
On August 29, 2016, Mylan announced it would be launching a generic version of its EpiPen. Mylan made the announcement after it received significant backlash in early August from media organizations and government officials questioning EpiPen’s $600 list price. According to a statement from Mylan, the generic will be listed for the price of $300 for a two pack, a 50% discount from the branded version of the drug. The company says the generic version of the drug will be nearly identical to the branded product, including its formulation and functionality. Mylan will continue to offer the branded version of EpiPen.
“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. 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. “However, because of the complexity and opaqueness of today's branded pharmaceutical supply chain and the increased shifting of costs to patients as a result of high deductible health plans, we determined that bypassing the brand system in this case and offering an additional alternative was the best option. Generic drugs have a long, proven track record of delivering significant savings to both patients and the overall healthcare system. The launch of a generic EpiPen, which follows the steps we took last week on the brand to immediately reduce patients' out-of-pocket costs, will offer a long-term solution to further reduce costs and ease the burden and complexity of the process on the patient."
This decision comes after multiple ranking Congress members wrote letters to Bresch expressing concern about the 400% price increase on the drug. The American Medical Association and Presidential candidate Hillary Clinton also weighed in, urging the company to lower the price of EpiPen. Mylan is the most recent company to be scrutinized for its decision to increase drug prices. Turing and Valeant both received media backlash earlier this year after they significantly bolstered the price of several drugs.