EpiPen maker Mylan announces the launch of its generic epinephrine auto-injector, priced at less than half the cost of an EpiPen.
Mylan is launching its previously-announced generic for the EpiPen Auto-Injector for $300, half the approximately $600 price tag for the original.
The company announced December 16 that its generic will be available for purchase through retail channels the week of December 18. There will be a 275-rep sales force for the generic product as well, according to the company press release.
Mylan’s launch follows its announcement in late August that it would start offering an authorized generic for its much-maligned EpiPen Auto-Injector. The company has faced months of criticism for increasing the price for EpiPen, which is used to treat severe allergic reactions in emergency situations.
The generic will be available in 0.3 mg and 0.15 mg dosages for a wholesale acquisition cost (WAC) of $300 for a two-pack product. According to the company release, there will also be a savings card for up to a $25 discount on the out-of-pocket cost for eligible patients. Underinsured and uninsured patients may also be able to receive patient assistance from the company.
Mylan CEO Heather Bresch said in the release, “Pharmaceutical pricing is too far removed from the patient at the pharmacy counter and not designed for today’s increasingly consumerized healthcare system.” Framing the generic product and lower price as a “solution” to this problem, she said, “This is why we took decisive action with our EpiPen product and have launched the first generic version at half the WAC price. This unprecedented action, along with the enhancements we made to our patient access programs, will help patients and provide substantial savings to payors.”
In October, Mylan settled U.S. Department of Justice charges that it had overcharged Medicaid for years by classifying EpiPen as a generic instead of as a brand-name product. The company agreed to pay $465 million as part of the settlement.
[Image courtesy of MYLAN]
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