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Actionable news in TEVA: TEVA PHARMACEUTICAL INDUSTRIES LIMITED AMERICAN DEPOSITARY SHARES,

Mylan expects that generic version of EpiPen will capture vast share of market

Pharmaceutical giant Mylan has said it expects its planned generic version of its brand-name EpiPen to eventually account for more than 85 percent of all sales of its auto-injector anti-allergic reaction devices, possibly "saving patients and the healthcare system more than $1 billion."

That projection is made in a seven-page letter Mylan sent U.S. Sen. Charles Grassley, R-Iowa, who had asked the company about its rationale for pricing EpiPens at more than $600 for a two-pack, which is more than 400 percent higher than the life-saving devices were selling for several years ago.

Mylan last week responded to growing outrage over those price hikes by announcing it...


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