CVS Is Now Selling an EpiPen Competitor at a Massive Discount

CVS Is Now Selling an EpiPen Competitor at a Massive Discount

This week, Cigna was added to the list stating it will only cover the generic version.

(CVS - Free Report) announced that it is now selling a cheaper alternative to Mylan's (MYL - Free Report) EpiPen, the best-selling but high-cost treatment for life-threatening allergies. Pharmaceutical giant Mylan was embroiled in a controversy about its drug pricing a year ago when it hiked the price of EpiPen by more than 400 percent.

Ms. Eldred said Cigna will work with customers' physicians to consider extending coverage for the brand name version if deemed medically necessary.

The drugstore chain says it will charge $109.99 for a two-pack of the authorized generic version of Adrenaclick, a lesser-known treatment compared to EpiPen, which can cost more than $600.

CVS Is Now Selling an EpiPen Competitor at a Massive Discount
CVS Is Now Selling an EpiPen Competitor at a Massive Discount

The Adrenaclick injector is now available at CVS locations nationwide for the cash price of $110 for a two-pack, the company said. Additionally, doctors who want their patients to have access to the generic would need to write the prescription for just an "epinephrine auto-injector" instead of naming a particular brand. Patients who already have a prescription on file with CVS can ask their pharmacist to check with the prescriber about making the change. The PR fiasco forced the company to buttress its own patient assistance and rebate programs for the EpiPen and to introduce an authorized generic version of the device at half the price. Mylan shares closed down 4.3%.

If you now have a prescription for EpiPen, you'll need to talk to your physician to make sure this generic is right for your needs.

EpiPen is a preloaded injection of epinephrine, also known as adrenaline, used in case of a risky allergic reaction called anaphylaxis that could cause death if untreated.

Prescription drug prices vary widely because of negotiations between pharmacies, drugmakers and pharmacy benefit managers.

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