Jason Chaffetz

Mylan launching cheaper, generic version of EpiPen

The maker of EpiPens will start selling a cheaper, generic version of the emergency allergy shots as the furor over repeated U.S. price hikes continues — and looming competition threatens its near-monopoly.

Despite its second move in five days to make EpiPens more affordable for consumers, maker Mylan N.V. still faces condemnation from critics who accused it of price-gouging. They note Mylan hasn't reduced the $608 list price for a pair of EpiPen auto injectors or explained why it hiked the price more than 500 percent from $94 after acquiring the product in 2007.

"More must be done_and more quickly_to make this life-saving drug more affordable," Sen....