Mylan to cut EpiPen costs following Clinton comments

Mylan said it was taking "immediate action" to further enhance access to its EpiPen injectors after the generic and specialty pharmaceuticals firm was slammed on Wednesday by presidential candidate Hillary Clinton, who urged the group to drop the price of the treatment.

Mylan has bumped the price of the EpiPen – which is used to treat anaphylactic shock – by more than 400% in the last six years.

The company said on Thursday that it was cutting the cost of the EpiPen 2-Pak through the use of a savings cards that will cover up to $300, effectively halving the price.

Mylan is also doubling the eligibility for its patient assistance programme, which will eliminate out-of-pocket costs for uninsured and under-insured patients and families as well.

Chief executive officer Heather Bresch said: “We recognise the significant burden on patients from continued, rising insurance premiums and being forced increasingly to pay the full list price for medicines at the pharmacy counter.

“Patients deserve increased price transparency and affordable care, particularly as the system shifts significant costs to them. 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 US healthcare crisis, and we are committed to do our part to drive change in collaboration with policymakers, payors, patients and healthcare professionals."

Mylan shares were up 2.8% to $43.15 in pre-market trade following heavy losses in the previous session.