Despite the FDA promising that Teva Pharmacuetical's generic EpiPen would offer patients a "lower-cost option," the lifesaving allergy medication will launch with a price tag of $300 per pack — the same list price Mylan charges for its authorized generic of EpiPen.
Here are five things to know:
1. Teva, the nation's largest generic drugmaker, received FDA approval for its generic versions of EpiPen and EpiPen Jr. Aug. 16.
2. The cost of EpiPens has drawn public criticism over the last few years. In 2016, Mylan introducedits own generic version of EpiPen after a public outcry over the branded version's price, which has jumped more than 450 percent since 2004. The generic version costs $300 for a two-pack, compared to the brand-name version which costs more than $600.
3. When Teva received approval, FDA Commissioner Scott Gottlieb, MD, said: "This approval means patients living with severe allergies who require constant access to lifesaving epinephrine should have a lower-cost option, as well as another approved product to help protect against potential drug shortages."
4. Teva's generic EpiPen will launch at a $300 price tag for a two-pack.
5. Many consumers will likely pay less than $300 due to pharmacy benefit manager rebates and consumer coupons.