Under mounting pressure, pharmaceutical company Mylan says it will slash the costs of emergency EpiPens for some patients in the US.
Democratic presidential candidate Hillary Clinton has joined a wave of criticism over the allergy treatment’s rapidly increasing price.
The price of EpiPen rocketed from around 90 euros to more than 500 euros since it was acquired by Mylan in 2007.
“The larger picture here is, what drives prices down is competition. And there is no competitor for EpiPen on the market right now, and it’s off-patent,” explained Peter Pitts, a former official at the US Food and Drug Administration (FDA).
“So what the FDA really needs to do is to prioritise the review of generic drugs for products that don’t currently have generic on the market. As soon as the FDA approves a generic for EpiPen, the price is going to plummet 70 or 80 percent.”
EpiPens are preloaded injections of adrenaline used in cases of severe allergic reaction.
The list price of the drug will remain the same, but the company says some out of pocket costs will now be reduced.