On Monday, the company issued a press release announcing that a generic version of its product—used to treat anaphylaxis, a severe allergic reaction—would be available in several weeks.
It’s the second move in the past week to quell unrelenting criticism over the drug’s current list price of $600. In 2008, the auto-injector cost roughly $100. Last week, Mylan announced a savings card, which covers up to $300 of the EpiPen 2-Pak.
The new move could help mollify critics, though some are likely to point out 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 around $100 for a pair, with the price increases accelerating in recent years.
Critics might also wonder why the company just does not reduce the price across the board rather than introduce an identical generic.
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However, Mylan’s chief executive, Heather Bresch, said that just reducing the price of the EpiPen wouldn’t necessarily translate to consumers’ paying less—hence the launch of the drug’s generic version:
We understand the deep frustration and concerns associated with the cost of EpiPen® to the patient, and have always shared the public's desire to ensure that this important product be accessible to anyone who needs it. Our decision to launch a generic alternative to EpiPen® is an extraordinary commercial response, which required the cooperation of our partner. However, because of the complexity and opaqueness of today's branded pharmaceutical supply chain and the increased shifting of costs to patients as a result of high deductible health plans, we determined that bypassing the brand system in this case and offering an additional alternative was the best option. Generic drugs have a long, proven track record of delivering significant savings to both patients and the overall healthcare system. The launch of a generic EpiPen®, which follows the steps we took last week on the brand to immediately reduce patients' out-of-pocket costs, will offer a long-term solution to further reduce costs and ease the burden and complexity of the process on the patient.
Bresch also reminded the public, “Ensuring access to medicine is absolutely the core of Mylan's mission and has been since [its] founding 55 years ago.” She continued:
Mylan currently markets approximately 600 products in the U.S., saving our healthcare system hundreds of millions of dollars annually. We also are committed partners to the allergy community and take our responsibilities to serving these patients very seriously. Today's action further demonstrates this commitment.
In its statement, the company said it will continue its EpiPen4Schools® program along with offering patients its savings card, and it highlighted its education and accessibility efforts:
In addition, Mylan intends to initiate a direct ship program in conjunction with the launch of the generic at the $300 generic list price. Mylan also continues to fight for enhanced access to epinephrine auto-injectors through other measures, such as inclusion of the product on the federal and private insurance preventive drug lists, which could potentially eliminate all co-pays.
Importantly, Mylan remains fully committed to continuing to meet the needs of this under-served patient population. This includes investing in education and awareness about anaphylaxis, a life-threatening allergic reaction. These efforts have proven vital to ensuring patients are aware of their risk, prepared in the event anaphylaxis occurs, and have access to epinephrine auto-injectors whenever and wherever they need them, at an affordable cost.
The New York Times reported:
The move to offer a generic is somewhat unusual. While brand-name drug companies sometimes start selling so-called authorized generic versions of their own products, it is usually to undercut an outside generic competitor.
In this case, Mylan faces no immediate generic threat. However, other companies, sensing opportunities, are looking at developing less expensive products that, like EpiPen, provide a rapid injection of epinephrine to counter anaphylactic shock that can occur from a bee sting, peanut allergy or other cause.
And pressure is mounting on the Food and Drug Administration, which rejected a generic version from Teva earlier this year, to perhaps be more accommodating in letting alternatives on the market.
The move seems to have helped the company’s financial outlook, Reuters reported:
Mylan's shares were up about 2 percent at $43.90 in premarket trading. The stock had fallen 12 percent last week.
What do you think, PR Daily readers? Will the offerings be enough to satisfy critics? How do you think Bresch handled her statements?
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