Since 2007, Mylan has raised EpiPen prices from under $100 to over $600. The new generic version approved by the FDA should drive down prices.
The Food and Drug Administration on Thursday approved the first generic version of EpiPen, providing new competition that could help drive down the cost of a lifesaving product that had become a notorious symbol of high drug prices.
The generic copy is made by Teva Pharmaceuticals USA, and will rival Mylan, which had come under intense criticism for raising the price of its EpiPen sixfold since buying it in 2007. Mylan’s device has been plagued by periodic shortages, with consumers scrambling again in recent months to find a reliable supply.
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