CVS Health Corp (CVS) to Sell Cheaper Generic Version of EpiPen

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CVS Health Corp (NYSE:CVS) has announced that it is now selling a generic version of EpiPen.

CVS Health Corp, CVS, Mylan NV, MYL, EpiPen

The generic version of EpiPen being sold by CVS Health Corp is its own product and was released to give customers a cheaper option for epinephrine. The company is selling a two-pack of the drug for $109.99. This is the lowest cash price for the drug in the market.

The generic EpiPen being sold by CVS Health Corp has approval from the U.S. Food and Drug Administration. It also contains the same active ingredient that other versions of the device use to treat allergic reactions.

“We’re encouraged to see national efforts to make epinephrine auto-injectors more affordable and more available to Americans across the country,” Cary Sennett, MD, PhD, President and CEO of the Asthma and Allergy Foundation of America, said in a statement. “Partnerships that increase access to vital medications are key in helping those suffering from life-threatening allergies.”

CVS Health Corp’s generic version of the EpiPen is a direct response to the increasing price of Mylan NV’s (NASDAQ:MYL) name brand version of the drug. MYL recently introduced its own generic version of EpiPen for half the price of its name brand, but that is still much more expensive than the CVS option.

Cigna Corporation (NYSE:CI) has recently announced that it will no longer be covering the name brand version of Mylan NV’s EpiPen. Instead, the health insurance company says it will only cover the generic brand of the drug that MYL recently introduced.

CVS stock was flat, CI stock was up 1% and MYL stock was down 2% as of Noon Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/01/cvs-health-corp-mylan-nv-epipen-myl/.

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