FINALLY

FDA Approves First Generic Competitor to EpiPen

The move may lower prices for the life-saving product.

The Food and Drug Administration on Thursday approved the first generic competitor to Mylan’s EpiPen, according to CNBC. “Patients living with severe allergies who require constant access to life-saving epinephrine should have a lower-cost option, as well as another approved product to help protect against potential drug shortages,” FDA Commissioner Scott Gottlieb said in a statement. The newly authorized generic is made by Teva Pharmaceuticals, an Israeli drug company. EpiPen maker Mylan released its own generic version in 2016—which was half the price of its original product—following public outrage over EpiPen prices, which rose over 400 percent in a decade, according to CNBC. Other auto-injectors of epinephrine, the main ingredient in EpiPens, are on the market, but aren’t considered generic versions of EpiPen. EpiPen has recently been having some supply issues. “We’re applying our full resources to this important launch in the coming months and eager to being supplying the market,” Teva said in a statement. The company did not specify when it would release its product or how much it would cost. Teva’s stock rose almost 6 percent after the news was announced.