Mylan is set to launch the first generic version of its EpiPen Auto-Injector (epinephrine injection, USP) for the emergency treatment of life-threatening allergic reactions caused by allergens, exercise, or unknown triggers.

The generic EpiPen will be available for $300, which is half the price of the branded medicine. The company also recently reduced the out-of-pocket costs of EpiPen.

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Following the completion of labelling revisions, the product will be made available as a two-pack carton in both 0.15mg and 0.30mg strengths in several weeks, Mylan said in a statement.

Mylan CEO Heather Bresch said: “Our decision to launch a generic alternative to EpiPen is an extraordinary commercial response, which required the cooperation of our partner.

"Our decision to launch a generic alternative to EpiPen is an extraordinary commercial response, which required the cooperation of our partner."

“However, because of the complexity and opaqueness of today's branded pharmaceutical supply chain and the increased shifting of costs to patients as a result of high deductible health plans, we determined that bypassing the brand system in this case and offering an additional alternative was the best option.

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“Generic drugs have a long, proven track record of delivering significant savings to both patients and the overall healthcare system.”

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EpiPen and EpiPen Jr must be administered immediately at the first sign of an anaphylactic reaction.

Each EpiPen 2-Pak and EpiPen Jr 2-Pak contains two single auto-injectors, instructions for use and a training device, with no drug product or needle, in order to help patients become familiar with the administration technique.