Generic Epi-Pen Could be Lifesaver for Allergy Sufferers
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Allergy sufferers rejoice: the Food and Drug Administration (FDA) has finally given approval to a generic EpiPen. The introduction of an affordable EpiPen to the United States market is a major victory for those plagued by food allergies, drugs insect stings and other allergens. Allergy sufferers have been shelling out several hundred dollars for each of these lifesaving devices. The price of the generic EpiPen will likely be a fraction of the cost of a non-generic EpiPen.
Competition in the Market
Generic EpiPens are a major step forward for individuals with allergies as well as free market capitalism. These low-cost EpiPens represent much-needed competition that will cause a market-wide price drop in allergy injections. The generic version of the EpiPen is provided by Teva Pharmaceuticals USA. The device is considered the therapeutic version of EpiPens, meaning it can be substituted at pharmacy counters for EpiPen or EpiPen Jr. prescriptions. The FDA’s approval of the generic allergy injection is critically important as we approach back-to-school season in which countless kids will suffer anaphylactic reactions when consuming school lunches and snacks. This is the time of the year when parents purchase EpiPens to replace expired injectors and schools load up on the devices for fear of potentially deadly anaphylactic reactions.
Why the Generic EpiPen is so Important
Mylan, a global healthcare company, made headlines a couple years ago when boosting the price of its EpiPen all the way up to $600 for a two-pack. The average parent was able to afford the prior price of $50 per two-pack yet hardly anyone has room in their budget to shell out $300 for a single injector. Furthermore, EpiPen availability has been an issue across the country as manufacturers struggle to produce injectors in a timely manner and pharmacies are plagued by numerous supply chain disruptions.
Allergy sufferers and parents of highly-sensitive adolescents eagerly await the arrival of generic EpiPen. Though the launch date has not been set and the price of the generic injector is not yet known, the FDA’s approval provides much-needed hope for a better future. The expectation is the generic EpiPen will reach the market within a couple months at a comparably affordable price.
The Knowledge Group are going to be reviewing the latest trends and developments in the Life Sciences industry on September 5th with some industry experts, everything from patent litigation through to marketing trends. You can sign up and view a full agenda by clicking here. We hope to see you there and it’s also worth noting that this webcast is eligible for Continuing Legal Education (CLE) Credit.
Broadcast Date: October 11th 2018, 3:00pm – 4:00pm (EST) Also available on demand after the broadcast date.