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Mylan Is Launching the First Generic to Its EpiPen At a Heavy Discount

A file photo showing the EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company are seen in WashingtonA file photo showing the EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company are seen in Washington
Mylan's competitors are coming for its share of the market.Photograph by Jim Bourg — Reuters

Mylan NV (MYL) said on Monday it would launch the first generic to its allergy auto-injector EpiPen at a discount of more than 50% to the branded product’s list price.

This company reduced the out-of-pocket costs of EpiPen for some patients last week amid a wave of criticism from lawmakers and the public over the rapid escalation in the product’s price in the past few years.

Mylan said it expects to launch the generic product “in several weeks” at a list price of $300 per generic EpiPen, compared with the branded product’s cost of about $600.