Teva begins selling generic EpiPen

Teva Photo: Reuters Ammar Awad

The treatment for life-threatening allergies has been the flagship branded drug of Mylan, Teva's generic pharmaceutical rival.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA)) has announced the release of limited doses of the FDA-approved generic version of EpiPen, for the treatment of life threatening allergies.

EpiPen has been the flagship branded drug of Mylan, Teva's generic pharmaceutical rival. Mylan acquired the drug from Merck KGaA in 2007. Teva has had a protracted wait for FDA approval for generic EpiPen after its 2016 application was rejected on the grounds that a generic version could only be launched in 2017. In the end approval was only awarded this year. EpiPen has had a controversial history with serious complaints two years ago about price hikes and a $465 million settlement in a compromise agreement with the government Medicaid insurance program over incorrect classification.

Teva is marketing EpiPen as an auto-Injector with 0.3 mg dosages. The publically-available Wholesale Acquisition Cost (WAC) for the product is $300.

Brendan O’Grady, EVP and Head of North America Commercial at Teva said, “We’re pleased to provide access to Epinephrine Injection (Auto-Injector) for patients who may experience life-threatening allergic emergencies and we’re fully dedicated toward ensuring additional supply in 2019.”

Published by Globes, Israel business news - en.globes.co.il - on November 28, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Teva Photo: Reuters Ammar Awad
Teva Photo: Reuters Ammar Awad
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