Heather Bresch, chief executive officer of Mylan.
Facing public and political wrath for steep price hikes on life-saving EpiPens, the devices manufacturer, Mylan, announced Monday that it will offer a cheap generic.
Since Mylan bought EpiPens in 2007, the company has increased the price from around $50 for a single pen to a little more than $600 for a two pack—a more than 400 percent increase in costs.
That s half of the current list price for a two pack, but still triple the 2007 cost of the devices.
EpiPens—auto-injectors that deliver a dose of epinephrine to reverse deadly allergic reactions, namely anaphylaxis shock—cost just a few dollars to make and have not changed considerably since Mylan acquired them.
The company's chief executive, Heather Bresch, saw her salary increase by more than 600 percent, topping $18 million last year.