
CVS, Cigna Decisions Encourage Use of Cheaper EpiPen Alternatives
Shortly after Cigna announced it would stop covering the name-brand EpiPen, CVS declared it would begin selling a cheaper generic version of the costly epinephrine injector. Earlier in the week, Heather Bresch, CEO of EpiPen manufacturer Mylan, had reflected on the controversy surrounding the device’s price.
Shortly after Cigna announced it would stop covering the name-brand EpiPen, CVS declared it would begin selling a cheaper generic version of the costly epinephrine injector. Earlier in the week, Heather Bresch, CEO of the EpiPen manufacturer Mylan, had reflected on the controversy surrounding the device’s price.
The bad news for EpiPen sales began on Wednesday, when the
Cigna issued a statement explaining its decision to revise its covered drug list in hopes that it would “encourage use of the generic version as it will deliver more overall value to customers and clients.” The generic, it said, “has the same drug formulation and device functionality as the branded medication, but at a substantial cost savings.”
On Thursday,
The price of a 2-pack of EpiPens surpassed $600 in 2016, sparking a national furor that Mylan CEO Heather Bresch addressed in
Bresch was not concerned about potential criticism from President-elect Donald J. Trump, who has repeatedly attacked drugmakers like Mylan that rapidly raise prices. Trump “appears to be someone who appreciates very decisive and immediate action,” she said in the interview, citing Mylan’s development of the generic injector and its distribution of $300 rebate cards for the full-price product as examples of such decisive actions to make its drugs more affordable.
Mylan stock was down 4.3% when markets closed on Wednesday,
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