Mylan (NASDAQ:MYL) is in damage-control mode for skyrocketing the cost of its life-saving allergy shot EpiPen. The company is expanding access to the drug by offering a savings card that will cover up to $300 of its EpiPen two pack.
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Former paid spokeswoman for Mylan Specialty Kelly Rudnicki on Thursday told FOX Business Networkâs Liz Claman a coupon is not enough and called for Mylan CEO Heather Bresch to stepdown.
âShe owes a stronger explanation to consumers who rely on Mylan and EpiPens to keep their children safe,â Rudnicki said.
Rx Savings Solutions CEO Michael Rea said thereâs an alternative to the EpiPen that delivers the same dose and active ingredient as Mylanâs device. The alternative requires two caps to be removed from a pen instead of one like in the EpiPen.
Rea is not surprised by the price Mylan is charging and doesnât think a savings card is the solution.
âI think itâs a Band Aid. Itâs a way to calm some very outraged Americans who have big sticker shock. But at the end of the day, itâs not a lower price. Third party payers, health plans, self-funded employers, they are still paying rack rates and thatâs not going to work,â Rea said during an exclusive interview with the FOX Business Networkâs Countdown to the Closing Bell.
Rx Savings Solutions is operated by a team of pharmacists and engineers that works with health plans and self-funded employers to optimize therapies at the lowest cost.