Mark Baum believes the relentless EpiPen price hikes are “shameful” and his company is plotting a $100 alternative for the lifesaving allergy treatment.
Baum, known for offering a $1 substitute for the $750 AIDS drug Daraprim, told CNNMoney on Tuesday that his company Imprimis Pharmaceuticals (IMMY) has been quietly working on a compounded version of EpiPen for months. The company hopes to have it ready by the end of the year.
The plans come amid the latest price gouging scandal over the 400% increase in EpiPen prices by Mylan (MYL). The drug maker and its CEO Heather Bresch have become the newest faces of corporate greed. In response to the outcry, Mylan took the unusual step of announcing a fast-track launch of its own $300 generic EpiPen. – READ MORE
