The extravagant medical tool Mylan's EpiPen is reportedly getting a low-cost generic versions. The CVS Pharmacy will market the generic version which reportedly will cost a sixth of the EpiPen's price. The announcement for such alternative comes a couple of months after Mylan was criticized by the congress for raising the price of EpiPen.
The CVS Health Corp. has created a generic version of the life-saving allergy treatment EpiPan that was originally introduced and marketed by Mylan. According to the CVS Pharmacy President Helena Foulkes, they felt the urgent need for a less expensive alternative to the epinephrine auto-injector which is being used by patients with life-threatening allergies. Reports reveal that the alternative will cost only $109.99 for its two-pack generic version of the Adrenalick or EpiPen which now costs over $600. Furthermore, the CVS partnered with the Impax Laboratories who has been offering a coupon program that offers additional price trims and incentives to qualifying patiens.
According to the Inquisitr, the low-cost version of Mylan's EpiPen is already available in more than 9,600 pharmacies of the CVS. The price that the CVS appointed to its generic auto-injector depicts the price of EpiPen's before Mylan got the rights to the said devices. After 2007, Mylan raised the price of the life-saving devices several times which sparked an outcry. It has hiked the price for over 400 percent and has been raising 25 percent of the previous price, every year.
Mylan's EpiPen has long been the tool for parents to save their children who are suffering from severe allergies. The tool is often used to stop anaphylaxis which is a fatal allergic reaction to insect bites as well as food allergies. Following the price hikes of the product though, alternatives have been created and the health insurance giant Cigna has declared its break up with Mylan's EpiPens and will cover the version of CVS instead.
Like the EpiPen though, CVS Pharmacy's syringes will include epinephrine, and will expire after a year. This is to force the patients to get new prescriptions if they never used the old pens. The price trim is reportedly the main benefit of the low-cost version of Mylan's EpiPen as noted by the Valley News Live where Cigna Spokesperson Karen Eldred said: "It is positive news for our customers...The generic version, available now in pharmacies, has the same drug formulation and device functionality as the branded medication, but at a substantial cost savings."
