Mylan is releasing a generic version of its emergency allergy treatment EpiPen at half the price of the branded option, the cost of which drew scorn from parents nationwide and spawned Congressional inquiries.
The potential cost savings will depend in part on a patient’s insurance coverage and qualifications for discount and assistance programs that the drugmaker also provides.
Mylan said Friday that it will charge $300 for the generic version of its life-saving injections, which come in a two-pack. The generic version will begin to reach retail pharmacies next week.
The list price of an EpiPen two-pack, which is stocked by schools and parents of children with severe allergies, now tops $600, an increase of more than 500% since 2007, when Mylan bought rights to the drug. The price of the new generic version is also far higher than what the branded version cost in 2007.
EpiPens are used in emergencies to stop anaphylaxis, the potentially fatal allergic reactions to insect bites and stings and foods such as nuts and eggs. People usually keep multiple EpiPens handy at home, school or work. But the syringes, prefilled with the hormone epinephrine, expire after a year.
Criticism of the branded drug’s list price started snowballing last summer when parents doing back-to-school shopping encountered sticker shock at the pharmacy counter and began protesting to politicians and on social media.
In September, a congressional panel grilled Mylan Chief Executive Healthier Bresch about the soaring cost, which she has blamed in part on insurers, pharmacy benefits managers and other middlemen that stand between the drugmaker and the customer.
A company spokeswoman confirmed Friday that the assistance also will apply to the generic version.
Mylan also offers $300 copay cards for the brand-name version, to help customers with high out-of-pocket expenses. It’s also providing a $25 discount for customers buying the generic version.
But uninsured patients and those on the government-funded Medicaid and Medicare programs don’t qualify.
Critics say many customers won’t use or qualify for the discounts and assistance programs. They also argue that these programs have little impact on the bill that employer or insurers pay, something that can affect the price of health insurance.
1:55 p.m.: This article was updated with additional details.
This article was originally published at 6:50 a.m.