An EpiPen epinephrine auto-injector, a Mylan product. (AP file)
NEW YORK (FOX 5 NY) - Following an exorbitant price hike for the life-saving drug known as Epi-Pen, Mylan CEO Heather Birsch announced Thursday a new plan to reduce costs for users.
EpiPens are injection devices used to ward off potentially fatal allergic reactions.
A two-dose package cost around $94 nine years ago and sold for an average $608 in May, according to the Elsevier database.
Mylan will now expand its savings program to cover up to $300, of out of pocket costs thus reducing the patient cost by 50% off Mylan's list price.
There will be no out-of-pocket costs for the under-insured and un-insured.
"Patients deserve increased price transparency and affordable care, particularly as the system shifts significant costs to them," said Birsch. "However, price is only one part of the problem that we are addressing with today's actions. All involved must also take steps to help meaningfully address the U.S. healthcare crisis, and we are committed to do our part to drive change in collaboration with policymakers, payors, patients and healthcare professionals."
Patients will also be able to order the injected emergency medicine for severe allergic reactions directly from the company, to help lower costs.
With the Associated Press