FDA Gives Mylan Monopoly Jolt On EpiPen
Reuters reports that Mylan will produce “the first generic version of its allergy auto-injector EpiPen.” The generic version will sell for $300. That’s half the price of the “branded product.”
This will be the first generic EpiPen because the FDA has dragged its feet approving any other generic version. So Mylan has a near monopoly on a life saving product. Now it also has a monopoly on the generic version.
That monopoly enabled Mylan to increase the list price of an EpiPen two pack from $100 in 2008 to $600 today. The company is offering the generic version in response to criticism of its price hikes.
Here’s a WSJ editorial blaming the FDA for the Mylan monopoly.