Make us your home page
Instagram

Mylan to offer a generic EpiPen at half the price

In its latest move to quell outrage over its price increases, the maker of the EpiPen has resorted to an unusual tactic — introducing a generic version of its own product.

The company, Mylan, said Monday that the generic EpiPen, expected in several weeks, would be identical to the existing product, which is used to treat severe allergic reactions. But it will have a wholesale list price of $300 for a pack of two, half the price of the brand-name EpiPen.

The introduction of the generic is in addition to measures the company announced last week for the branded EpiPen, which will remain in place. Those steps were to increase the financial assistance the company provided to commercially insured patients to help with their out-of-pocket costs and to broaden the eligibility for uninsured patients to receive free products.

Those measures, however, did not stem the public furor, in part because the company kept the list price the same. So now, the company will essentially sell the same product under two names at two price points, in competition with each other.

The new move could help mollify critics, though some are likely to note that even at $300, the generic would still be triple the price of the EpiPen in 2007, when Mylan acquired the product and began steadily raising its price from about $100 a pair.

Robert Weissman, president of the consumer group Public Citizen, said that the new move was not enough and that Mylan should just cut the price across the board.

"The weirdness of a generic drug company offering a generic version of its own branded but off-patent product is a signal that something is wrong," he said in a statement.

Adam J. Fein, president of Pembroke Consulting, who studies the drug distribution industry, said that if Mylan had simply lowered the price it would have risked angering all parties in the distribution network, including pharmacy benefit managers, wholesalers and pharmacies, which take a piece of the total amount spent on the drug.

Introducing a generic "is a way to do it without making enemies with a bunch of Fortune 25 companies who control your fate," he said.

Mylan to offer a generic EpiPen at half the price 08/29/16 [Last modified: Monday, August 29, 2016 8:09pm]
Photo reprints | Article reprints

Copyright: For copyright information, please check with the distributor of this item, New York Times.
    

Join the discussion: Click to view comments, add yours

Loading...
  1. Carrollwood fitness center employs scientific protocol to help clients

    Business

    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel

    Business

    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal

    News

    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate

    By WAVENEY ANN MOORE

    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]