Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Mylan brings positive news

Generic drug maker Mylan is moving quickly to address its recent EpiPen pricing issues.

It said on Monday that it will offer a generic version of the life-saving allergy treatment EpiPen for half the list price of the brand name treatment, which had become the center of a national controversy over skyrocketing drug prices, according to USA Today.

The move marks a sharp shift after Mylan vigorously defended multiple increases that resulted in a list price of about $600 for a two-pack of the emergency injection treatment, up from about $100 in 2009.

The generic version "will be identical to the branded product, including device functionality and drug formulation," Mylan said in a statement. It will hit shelves within several weeks at a list price of $300 for a two-pack carton in dosages of either 0.15 milligrams or 0.30 mg, the company said.

This could help Mylan shares stage a rebound, as the stock price has dropped significantly this month