CVS Cuts Cost for Generic EpiPen

 

**Embargo: Cleveland-Akron, OH** Cigna, a top health insurer, is dropping coverage of the EpiPen. The lifesaving allergy medication has been a flash point for debates over rising drug costs. Manufacturer Mylan (MYL) jacked up the price of the EpiPen by more than 400% since 2009, and was forced to develop a generic alternative amid national outrage.

FILE: EpiPen

NEW YORK — CVS is cutting the price on a generic version of the EpiPen allergy treatment.

The drugstore chain announced Thursday that it will sell a generic version of Impax Laboratories’ Adrenaclick treatment for $109.99 per two-pack, down from $200.

Mylan Agrees to Hand Over EpiPen Profit Documents to Congress

The drug company Mylan drew the ire of customers and Congress when it raised the price to more than $600 for an EpiPen two-pack. Mylan later announced plans to gell a generic version for $300.

Cigna, a top insurer, announced Wednesday that it was dropping coverage of the EpiPen and would cover only the half-priced generic.

A CVS Health spokeswoman said the price cut for the generic Adrenaclick was unrelated.

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Adrenaclick and EpiPen give an emergency injection of epinephrine to treat life-threatening allergic reactions known as anaphylactic shock.

Also on Wednesday, President-elect Donald Trump vowed at a press conference to fight price hikes by drug companies, which he lambasted for “getting away with murder.” Mylan’s stock price dropped more than 4%.