UPDATE: Mylan launching generic version of EpiPen

In response to growing criticism over the mounting costs of its allergy drug EpiPen, the maker Mylan says it is now releasing a new generic alternative as a cheaper choice.

A generic two-pack would cost about 300 dollars, company officials announced Monday. It would available in both 0.15 mg and 0.30 mg strengths.

In a statement on their website, Mylan CEO Heather Bresch says they understand the frustration and concerns of patients.

Bresch says in part, “Generic drugs have a long, proven track record of delivering significant savings to both patients and the overall healthcare system. The launch of a generic EpiPen®, which follows the steps we took last week on the brand to immediately reduce patients’ out-of-pocket costs, will offer a long-term solution to further reduce costs and ease the burden and complexity of the process on the patient.”

The decision comes after prices for a two-pack sky-rocketed to about 600 dollars. ABC News reports it cost around 94 dollars in 2007.

Buddy Richardson, a registered pharmacist with the Milford Street Pharmacy, says he believes the new generic pack is a step in the right direction; however, it can’t stop there.

“I think there’s a long way to go as far as the price of this life saving medicine,” Richardson tells 47ABC.

He argues the new generic two-pack is still too much to pay.

According to Richardson, there is currently a generic pack available on the market now costing around 400 dollars. He tells 47ABC, a more appropriate price would be less than 100 dollars per pack.

“The actual active ingredients don’t really cost that much. The pen device is a nice design and it’s very good in an emergency, but I don’t know that it’s worth the exceptional price,” he explains.

The generic version is expected to be available in the coming weeks.

Mylan says they do plan to continue marketing and distributing the branded EpiPen.