Kaleo says it will introduce competitor to Mylan's EpiPen in first half of 2017
Kaleo Inc. said early Wednesday that its epinephrine auto-injector, a competitor to Mylan's EpiPen allergic reaction treatment that had previously been recalled, should return to market in the first half of 2017. Kaleo, a privately-held company, said it had regained the rights from Sanofi , which voluntarily recalled the Auvi-Q a year ago on concerns about incorrect dose delivery of epinephrine. Kaleo did not say what the Auvi-Q's price would be. Public outrage erupted this summer over the EpiPen's increasing price, which consumers said made the product -- which has an effective monopoly on the market and a list price of over $600 for a two-pack -- unaffordable. Mylan said it would introduce a $300 authorized generic product, which the company said it plans to make available by the end of the year. The entire affair has taken a toll on Mylan, with its stock retreating 28.5% year to date, compared with a 4.9% rise in the S&P 500 .
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