Mylan (MYL) To Make Cheaper Version Of EpiPen

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It seems like Mylan NV has been paying attention to all the backlash against it raising its price on the EpiPen which had ballooned up to $608 for a pack of two. The company is now making a more affordable version of the pen in the next several weeks.

The cheaper version will be a generic EpiPen version that is identical to the branded option but will have a list price of $300 for a pack of two. Just like the current version on the market, the generic version will be available in both 0.15-milligram and 0.30-milligram strengths.

Mylan NV CEO Heather Bresch defended the price hikes, revealing that the company only received $274 of the total price for a twin-package. The company also said it was expanding programs that help people pay for EpiPens.

Is it a coincidence that the company’s generic version announement comes just a few days after the compounding pharmacy Imprimis Pharmaceuticals said it might be able to sell a version of the allergy treatment in a few months and would likely charge only $100 for two injectors?

The EpiPen is used in emergencies to treat severe allergies that include insect bites and foods like nuts. These allergies can lead to anaphylactic shock. The syringes, that are prefilled with the hormone epinephrine, expire after a year.

Disclaimer: We have no position in Mylan Inc. (NASDAQ: MYL) and have not been compensated for this article.