Mylan, which was slammed by Congress for raising the price of the EpiPen, began selling a generic and cheaper version of the drug Friday.
The company said the generic EpiPen would be available for $300 for a two-pack, about half the cost of the $600 brand name version. In announcing the drug, Mylan acknowledged problems with high drug prices.
“While it is important to understand the outdated and complex system that determines what someone pays for medicine in the U.S., hardworking families don’t need an explanation, they need a solution,” said CEO Heather Bresch. “This is why we took decisive action with our EpiPen product and have launched the first generic version at half the [wholesale acquisition cost] price.”
Mylan announced the plan to move to a generic earlier this year after anger over the price of the EpiPen, which can save lives by stopping allergic reactions, reached a fever pitch.
Mylan agreed to also offer a discount card for $300 off the $600 list price of its brand name drug.
But the moves did little to assuage lawmakers already angry over other drugmakers raising prices.
“Offering a meager discount only after widespread bipartisan criticism is exactly the same tactic used by drug companies across the industry to distract from their exorbitant price increases,” said Rep. Elijah Cummings of Maryland, the top Democrat on the House Oversight and Government Reform Committee.
The committee held a hearing earlier this year on Epipen’s price hike featuring Bresch, who refused to apologize for the price increase.
Mylan wasn’t the first drug maker to come before the committee. It also brought in executives from Valeant and Turing Pharmaceuticals, which both raised prices for decades-old generic drugs that had little competition.
