Teva releases generic version of EpiPen at competitor's price

Nov. 27 (UPI) -- Teva Pharmaceutical's long-awaited generic version of the EpiPen was announced Tuesday, but it offers no relief in the cost of the drug.

Teva's injector device for life-threatening allergies will be available in limited doses in the United States for $300, the same price as the generic already on the market by Mylan, the EpiPen brand-maker.

An additional supply of Teva's generic injector, along with a low-dose version, will be available next year, the company said.

"We're pleased to provide access to Epinephrine Injection (Auto-Injector) for patients who may experience life-threatening allergic emergencies and we're fully dedicated toward ensuring additional supply in 2019," Brendan O'Grady, head of North America commercial at Teva, said.

Mylan was subjected to controversy after increasing drug prices 548 percent over a decade, resulting in the $600 cost for an EpiPen two-pack. Mylan's half-price version was introduced in 2016.

The Trump administration boosted generic drug approvals to increase competition and lower prices.

The U.S. Food and Drug Administration approved Teva's generic EpiPen amid shortages in August.

"This approval means patients living with severe allergies who require constant access to life-saving epinephrine should have a lower-cost option," FDA Commissioner Scott Gottlieb said at the time.