Mylan could be facing another issue when it comes to the EpiPen,
a drug used to treat severe allergic reactions that has
seen a price increase of more than 500% since 2007.
The company’s stock was down by more than 4% Friday shortly after
Sen. Ron Wyden of Oregon and Rep. Frank Pallone of New
Jersey said they sent a letter asking about a possible
misclassification of the EpiPen under the Medicaid program.
Mylan’s stock has fallen by 17% since the debate around the
EpiPen’s price began to heat up on
August 22.
The letter, sent to Sylvia Burwell, the secretary of the
Department of Health & Human Services, asked for more
information about whether the EpiPen had been classified as a
generic drug (specifically something called a “Non-Innovator
Multiple Source Drug”) instead of a branded drug, which may have
led Mylan to underpay Medicaid.
Mylan said in a statement emailed to Business Insider that …
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