User Tag List

+ Reply to Thread
Results 1 to 7 of 7

Thread: CVS targets EpiPen with cheaper, generic version

  1. #1
    Points: 665,270, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 88.0%
    Achievements:
    SocialRecommendation Second ClassYour first GroupOverdrive50000 Experience PointsTagger First ClassVeteran
    Awards:
    Discussion Ender
    Chris's Avatar Senior Member
    Karma
    433314
    Join Date
    Feb 2012
    Posts
    197,552
    Points
    665,270
    Level
    100
    Thanks Given
    31,984
    Thanked 80,903x in 54,720 Posts
    Mentioned
    2011 Post(s)
    Tagged
    2 Thread(s)

    CVS targets EpiPen with cheaper, generic version

    My take on this is you could either have solutions decreed by leader or committee, or just let market competition find a better solution.

    CVS targets EpiPen with cheaper, generic version

    The nation’s largest drug-store chain announced a move Thursday that will cut prices and boost competition on a critical lifesaving medication that has been at the center of the public resentment over skyrocketing drug costs, including fresh attacks by President-elect Donald Trump.

    CVS Health Thursday that it would start selling the generic version of a competitor to pharmaceutical giant Mylan's EpiPen, an injection for people having severe allergy reactions. The move comes amid public consternation over multiple price increases that left the brand-name allergic-reaction treatment EpiPen with a list price of more than $600, up from about $100 in 2009.

    ...Trump attacked drugmakers on Wednesday for sharp hikes in drug prices. Outrage over steep increases and the corresponding profit boon for drugmakers is one of few bipartisan matters in Washington, although disagreements over how to address the matter have prevented action.

    ...The CVS move also comes amid scrutiny over the role of pharmacy benefit managers such as the CVS Caremark unit, in contributing to EpiPen increases. The National Community Pharmacists Association recently called for a Congressional hearing on how pharmacy benefit managers have contributed to the "absurdly high" price....

  2. #2
    Points: 23,893, Level: 37
    Level completed: 62%, Points required for next Level: 457
    Overall activity: 1.0%
    Achievements:
    SocialVeteran50000 Experience Points
    Newpublius's Avatar Senior Member
    Karma
    39140
    Join Date
    Mar 2013
    Location
    Boynton Beach, FL
    Posts
    7,313
    Points
    23,893
    Level
    37
    Thanks Given
    1,556
    Thanked 4,123x in 2,793 Posts
    Mentioned
    94 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Chris View Post
    My take on this is you could either have solutions decreed by leader or committee, or just let market competition find a better solution.

    CVS targets EpiPen with cheaper, generic version
    Exactly.

    I mean seriously, of Coke raised their price to $5 for a 2 liter, you think RC Cola would be more popular?

    Of course.

  3. #3
    Points: 49,511, Level: 54
    Level completed: 37%, Points required for next Level: 1,139
    Overall activity: 0%
    Achievements:
    SocialTagger First ClassRecommendation Second Class50000 Experience PointsVeteran
    Cthulhu's Avatar Senior Member
    Karma
    72948
    Join Date
    Sep 2013
    Location
    The spaces between cognitive thought and passive nightmares
    Posts
    13,841
    Points
    49,511
    Level
    54
    Thanks Given
    10,369
    Thanked 8,079x in 5,392 Posts
    Mentioned
    577 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Chris View Post
    My take on this is you could either have solutions decreed by leader or committee, or just let market competition find a better solution.

    CVS targets EpiPen with cheaper, generic version
    Didn't take long for the market to respond appropriately.

    Fear profits a man nothing.
    "For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."

    Ephesians 6:12

  4. #4
    Points: 665,270, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 88.0%
    Achievements:
    SocialRecommendation Second ClassYour first GroupOverdrive50000 Experience PointsTagger First ClassVeteran
    Awards:
    Discussion Ender
    Chris's Avatar Senior Member
    Karma
    433314
    Join Date
    Feb 2012
    Posts
    197,552
    Points
    665,270
    Level
    100
    Thanks Given
    31,984
    Thanked 80,903x in 54,720 Posts
    Mentioned
    2011 Post(s)
    Tagged
    2 Thread(s)
    Quote Originally Posted by Newpublius View Post
    Exactly.

    I mean seriously, of Coke raised their price to $5 for a 2 liter, you think RC Cola would be more popular?

    Of course.

    Or that Walmart wouldn't market their own generic cola? As long as the market is free, it's open to competition.


    And, remarkably, it's driven by profit. CVS is in it for profit.

  5. #5
    Points: 665,270, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 88.0%
    Achievements:
    SocialRecommendation Second ClassYour first GroupOverdrive50000 Experience PointsTagger First ClassVeteran
    Awards:
    Discussion Ender
    Chris's Avatar Senior Member
    Karma
    433314
    Join Date
    Feb 2012
    Posts
    197,552
    Points
    665,270
    Level
    100
    Thanks Given
    31,984
    Thanked 80,903x in 54,720 Posts
    Mentioned
    2011 Post(s)
    Tagged
    2 Thread(s)
    Quote Originally Posted by Cthulhu View Post
    Didn't take long for the market to respond appropriately.

    Fear profits a man nothing.

    Right, the market can react immediately. Congress would have meetings and hearings and pork any legislation.

  6. #6
    Points: 39,654, Level: 48
    Level completed: 69%, Points required for next Level: 496
    Overall activity: 0.1%
    Achievements:
    VeteranTagger First Class25000 Experience PointsSocial
    waltky's Avatar Senior Member
    Karma
    5662
    Join Date
    Oct 2012
    Posts
    8,859
    Points
    39,654
    Level
    48
    Thanks Given
    2,515
    Thanked 2,140x in 1,616 Posts
    Mentioned
    46 Post(s)
    Tagged
    0 Thread(s)

    Red face

    Mylan recalls Epi-Pens within the U.S....

    Device-maker expands recall of Mylan EpiPen, EpiPen Jr. to include U.S.
    March 31, 2017 - Mylan's original recall on March 20 affected only devices shipped to locations outside the United States.
    Meridian Medical Technologies, a manufacturer of Mylan's EpiPen auto-injectors, has expanded a recent voluntary recall to include some of the life-saving medical devices in the United States, officials said Friday. Mylan's original March 20 recall affected about 80,000 of the EpiPen devices shipped to locations outside the United States. Mylan NV announced that the additional recalled items were part of 13 lots of EpiPen (0.3 mg) and EpiPen Jr. (0.15 mg) 2-Pak Auto-Injectors that carry expiration dates between April and October. Mylan brands adult versions with a yellow label and junior devices with a green label.

    The company said the recalls are the result of two reported EpiPen failures that occurred outside the United States -- due to a "potential defect in a supplier component" -- and that more than 80,000 auto-injectors could contain the fault. "The potential defect could make the device difficult to activate in an emergency and have significant health consequences for a patient experiencing a life-threatening allergic reaction," Mylan said in a statement Friday.


    Mylan NV identified 13 lots of its EpiPen (0.3 mg) and EpiPen Jr. (0.15 mg) 2-packs shipped in the United States that are now included in a voluntary recall. The company said more than 80,000 of the life-saving auto-injectors are covered by the recall worldwide, which was prompted by two reports of device failures.

    EpiPens administer doses of epinephrine to patients with anaphylaxis -- a serious allergic reaction that can be fatal if not treated immediately. Mylan said both reported failures included devices, manufactured between December 2015 and July 2016, that were already included in the original recall. No device failures have been reported in the United States. "The expanded voluntary recall is being initiated in the U.S. and also will extend to additional markets in Europe, Asia, North and South America," Mylan said.

    The recalled items will be replaced at no cost. The company said the action is being done with the knowledge of the U.S. Food and Drug Administration. Customers should contact Mylan at (800) 796-9526 or email customer.service@mylan.com if they have any questions.

    http://www.upi.com/Top_News/US/2017/...p&utm_medium=3

  7. #7
    Points: 39,654, Level: 48
    Level completed: 69%, Points required for next Level: 496
    Overall activity: 0.1%
    Achievements:
    VeteranTagger First Class25000 Experience PointsSocial
    waltky's Avatar Senior Member
    Karma
    5662
    Join Date
    Oct 2012
    Posts
    8,859
    Points
    39,654
    Level
    48
    Thanks Given
    2,515
    Thanked 2,140x in 1,616 Posts
    Mentioned
    46 Post(s)
    Tagged
    0 Thread(s)

    New Generic EpiPen Wins FDA Approval...

    New Generic EpiPen Wins FDA Approval
    August 16, 2018 | WASHINGTON — U.S. health officials Thursday approved a new generic version of EpiPen, the emergency allergy medication that triggered a public backlash because of its rising price tag.
    The new version from Teva Pharmaceuticals is the first that will be interchangeable with the original penlike injector sold by Mylan. The Food and Drug Administration announced the approval in a statement. EpiPen injections are stocked by schools and parents nationwide to treat children with severe allergies. They are used in emergencies to stop potentially fatal allergic reactions to insect bites and stings and foods like nuts and eggs.


    EpiPen maker Mylan has dominated the $1 billion market for the shots for two decades. Several other companies sell competing shots containing the drug epinephrine, but they aren’t heavily marketed or prescribed by doctors. In 2016, Congress blasted Mylan in letters and hearings for raising EpiPen’s to $600 for a two-pack, a five-fold increase over nearly a decade. The company responded by launching its own lower-cost generic version for $300.



    A pharmacist holds a package of EpiPens epinephrine auto-injector, a Mylan product, in Sacramento, Calif., July 8, 2016. Mylan has a generic version of its emergency allergy treatment and a new competitor has been given FDA approval.



    Mylan continues to sell both versions at those prices, according to data from Elsevier’s Gold Standard Drug Database. Teva’s generic shot will be the first version that pharmacists can substitute even when doctors prescribe the original EpiPen.


    A Teva spokeswoman declined to comment on the drug’s price but said it would launch “in the coming months.” Generic drugs can be priced as much as 80 percent lower than the original product. But those price cuts usually appear after several companies have launched competing versions. Teva’s bid to sell a generic EpiPen faced multiple setbacks at the FDA, which rejected the company’s initial application in 2016. While epinephrine is a decades-old generic drug, Teva and other would-be competitors struggled to replicate the EpiPen’s auto-injector device.
    https://www.voanews.com/a/new-generic-epipen-wins-fda-approval/4532477.html

+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts