The Food and Drug Administration of US has approved a new allergy shot medication as an alternative for Mylan’s EpiPen. EpiPen is known to be costlier making it more unaffordable. The FDA approved Adamis Pharmaceuticals Corp’s product Symjepi would probably be on sale later this year, according to the Associated Press. Unlike EpiPen, Symjepi is a syringe and not an auto-injector, prefilled with two single doses of epinephrine hormone, which helps to stop life-threatening acute allergic reactions from insect bites, drugs, and other allergens, food products such as nuts and eggs, idiopathic or exercise-induced anaphylaxis or other certain medications.
The syringe filled with a set dose comes with a training device. The device is of pocket size and can easily fit into the pocket or purse. Small children and adults having severe food or insects allergies can carry the device in their pocket whenever they leave for the school or work or else when they are at home. Like EpiPen, the drug will be sold in pairs and is user-friendly that could help both retail and non-retail sectors of the epinephrine market. The drug will be similar to previous one in terms of chemical composition and safety but will be cheaper than EpiPen.
The Evercore ISI analyst, Umer Raffat said, “Symjepi is not identical to EpiPen and so the price Adamis sets “will obviously be an important consideration.” Presently, the price of EpiPens is about $630 to $700 without insurance, while the new generic version retails for about $225 to $425.”
The company will launch a generic version of the drug for about $300. President and CEO of Adamis, Dennis J. Carlo said, “We are very excited by this approval, and at the same time, are already preparing to submit our second NDA to the FDA.” The company is also preparing for a junior version of Symjepi that will compete with a junior version of Mylan’s EpiPen. “We are committed to helping patients by providing them with additional therapeutic choices”, he further added.