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On Thursday, leading drug store chain CVS Health Corp. (CVS - Free Report) announced that it is now selling a cheaper alternative to Mylan’s EpiPen, the best-selling but high-cost treatment for life-threatening allergies.
Dubbed Adrenaclick, the authorized generic treatment is made my Impax Laboratories Inc. , and is priced at $109.99 for a two-pack. Adrenaclick is an epinephrine auto-injector that was approved by the FDA in 2003. In comparison, the EpiPen costs $649.99, while its own authorized generic comes in at $339.99. Adrenaclick costs about a sixth of the price of the EpiPen.
“As a health care company focused on helping people on their path to better health, we recognized that there was an urgent need in the marketplace for a less expensive epinephrine auto-injector for patients with life-threatening allergies,” CVS Pharmacy President Helena Foulkes said in a statement.
We all remember the controversy surrounding Mylan’s EpiPen last year, when it was discovered that the pharma giant had hiked the price of the drug six-fold over the last several years; CEO Heather Bresch faced a congressional committee over the issue.
The emergency allergy treatments are stocked in schools and carried by parents of children, and are used to stop anaphylaxis, a potentially fatal allergic reaction. The high cost, however, makes the treatment incredibly expensive for consumers, especially those without insurance.
The $109.99 price will be applied to both patients who have insurance and those who pay cash, and some patients will even qualify for a coupon program that would market $100 per pack for ArdrenaClick, notesMarketWatch.
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CVS Debuts Cheap EpiPen Alternative
On Thursday, leading drug store chain CVS Health Corp. (CVS - Free Report) announced that it is now selling a cheaper alternative to Mylan’s EpiPen, the best-selling but high-cost treatment for life-threatening allergies.
Dubbed Adrenaclick, the authorized generic treatment is made my Impax Laboratories Inc. , and is priced at $109.99 for a two-pack. Adrenaclick is an epinephrine auto-injector that was approved by the FDA in 2003. In comparison, the EpiPen costs $649.99, while its own authorized generic comes in at $339.99. Adrenaclick costs about a sixth of the price of the EpiPen.
“As a health care company focused on helping people on their path to better health, we recognized that there was an urgent need in the marketplace for a less expensive epinephrine auto-injector for patients with life-threatening allergies,” CVS Pharmacy President Helena Foulkes said in a statement.
We all remember the controversy surrounding Mylan’s EpiPen last year, when it was discovered that the pharma giant had hiked the price of the drug six-fold over the last several years; CEO Heather Bresch faced a congressional committee over the issue.
The emergency allergy treatments are stocked in schools and carried by parents of children, and are used to stop anaphylaxis, a potentially fatal allergic reaction. The high cost, however, makes the treatment incredibly expensive for consumers, especially those without insurance.
The $109.99 price will be applied to both patients who have insurance and those who pay cash, and some patients will even qualify for a coupon program that would market $100 per pack for ArdrenaClick, notes MarketWatch.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>