CVS Introducing Cheaper, Generic Rival To EpiPen
CVS is now selling a rival, generic version of Mylan's EpiPen at about a sixth of its price, just months after the maker of the life-saving allergy treatment was eviscerated before Congress because of its soaring cost to consumers.
CVS Health Corp., the nation's second-largest drugstore chain, says it will charge $109.99 for a two-pack of the authorized generic version of Adrenaclick, a lesser-known treatment compared to EpiPen, which can cost more than $600.
The treatments are used in emergencies to stop anaphylaxis, a potentially fatal allergic reaction to insect bites and stings and foods like nuts and eggs. The syringes are filled with the hormone epinephrine, and they expire after a year. That often forces patients to fill new prescriptions even if they never used the old one.
Mylan NV started taking heat late last summer for its EpiPen pricing, which has climbed more than 500 percent since 2007. A Congressional panel grilled CEO Heather Bresch in September 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.
Bresch is one of several pharmaceutical executives who have been called to Congress, where both Republicans and Democrats have demanded explanations for spiraling drug prices, which can plunge patients into debt or force them to skip prescriptions.
President-elect Donald Trump said Wednesday during a press conference that he wants to create new bidding procedures on drugs to save money.