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CVS Partners With Impax to Sell Low-Cost Generic Epipen Alternative

posted by cmn32480 on Saturday January 14 2017, @06:21AM   Printer-friendly
from the this-is-what-happens-when-you-get-greedy dept.

takyon writes:

Just months after an outcry about a price hike for the life-saving "Epipen", CVS pharmacies will begin carrying a new generic injector at a cutthroat price:

Pharmaceutical giant CVS announced Thursday that it has partnered with Impax Laboratories to sell a generic epinephrine auto-injector for $109.99 for a two-pack—a dramatic cut from Mylan's Epipen two-pack prices, which list for more than $600 as a brand name and $300 as a generic.

The lower-cost auto-injector, a generic form of Adrenaclick, is available starting today nationwide in the company's more than 9,600 pharmacies. Its price resembles that of EpiPen's before Mylan bought the rights to the life-saving devices back in 2007 and raised the price repeatedly, sparking outcry. [...] The price of $109.99 for the alternative applies to those with and without insurance, CVS noted. And Impax is also offering a coupon to reduce the cost to just $9.99 for qualifying patients. [...] Meanwhile, backlash to Mylan's price hikes continue. This week, Cigna, a top health insurance company, said that it will no longer cover Mylan's brand name EpiPen—it will only cover the generic, which was rolled out in December.

Previously: AllergyStop: $50 EpiPen is Production-Ready but...
Mylan Overcharged U.S. Government on EpiPens

Original Submission

 
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  • (Score: 0) by Anonymous Coward on Saturday January 14 2017, @04:30PM

    by Anonymous Coward on Saturday January 14 2017, @04:30PM (#453823)

    Premise -- some people were hurt due to Mylan's pricing -- they needed an Epipen and one wasn't available due to cost. Now, the market has come up with a suitable response so this manufactured-crisis appears to be over.

    What if pharma price increases above an inflation-corrected % had to be announced six(?) months before they could take effect. This would give competitors time to tool up and get generics or other substitutes on the market before any predatory pricing could affect lives.

  • (Score: 0) by Anonymous Coward on Saturday January 14 2017, @07:46PM

    by Anonymous Coward on Saturday January 14 2017, @07:46PM (#453884)

    What if pharma price increases above an inflation-corrected % had to be announced six(?) months before they could take effect.

    In the DPRK price changes are planned 5 years in advance.