EpiPen Gets Its First Generic Rival After Criticism for High Price

(Bloomberg) — EpiPen, a life-saving allergy treatment widely criticized for its high price tag, will get generic competition for the first time since the autoinjector was approved more than two decades ago. The Food and Drug Administration on Thursday cleared Teva Pharmaceutical Industries Ltd.’s generic EpiPen and EpiPen Jr. for sale, several years after the Israeli drugmaker filed for approval. Mylan NV has attempted to thwart competition from Teva, claiming that differences in how the epinephrine-injecting devices work would confuse patients. Mylan takes in about $1 billion a year in EpiPen sales. Teva’s American depositary receipts rose 7.1 percent to $24.06 at 1:02 p.m. in New York. Mylan fell 0.4 percent to $37.68. FDA Commissioner Scott Gottlieb has pledged to help copycats of complex drug-device combinations, such as the EpiPen, find a way to market. The strategy is part of a sweeping effort by the Trump administration to bring down drug prices with more low-cost competition. Mylan acquired the rights to sell EpiPen in 2007, when it cost about $57 per shot. The market leader, which is run from Canonsburg, Pennsylvania, came under fire two years ago from patients and U.S. lawmakers for raising the price of EpiPen to $600 for a two-pack of the autoinjecting pens. Mylan then introduced a generic version of its own device at $300 for a two-pack. In May, the FDA placed the EpiPen on its list of drugs in shortage after more than 400 patients in 45 states...
Source: TIME: Health - Category: Consumer Health News Authors: Tags: Uncategorized allergies Bloomberg health onetime Source Type: news