It looks like there is no end is sight to the EpiPen shortage and Mylan (NASDAQ:MYL) stock is taking a beating Wednesday on the news.
Recent statements from the company note that it continues to expect the EpiPen shortage to continue. This is leaving many parents without a way to purchase the medicine as they prepare for the next school season to begin.
The reason behind the EpiPen shortage is that the company had production issues back in 2017. Following these problems, the U.S. Food & Drug Administration (FDA) announced that there was a shortage of the devices in the following year. The FDA still has EpiPens listed as in short supply.
So what exactly can parents do to get around the EpiPen shortage? There’s always the option of going with the generic version of the drug, which is also made by Mylan. The FDA does not list this one as being limited in supply.
Another option that parents may want to consider are rival products. This includes those made by Teva Pharmaceutical (NYSE:TEVA) or Novartis (NYSE:NVS). However, there are concerns about the difference in using these devices and them not being as recognizable as normal EpiPens, reports Bloomberg.
The Novartis option may be the best one for parents on a budget. The company is selling a two-pack of adult dosage syringes for $250. This is below the $300 price for a comparable pack of Mylan’s generic version, Reuters notes.
MYL stock was down 3% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.