Competitive Strategies: CVS Strikes Mylan With 80$ Discount of EpiPen
The spirit of competition reigns supreme in many things on this planet. It arises in almost any field, whether it be for fun or for financial gain. Competition is seen in the Olympics, in tournaments, and even in wildlife. It is a constant struggle, for all life forms on this planet compete with each other for various reasons whether it be for survival or for glory. The same exact thing can be seen in the market as companies clash with each other in order to appeal to their consumers. It's seen in car dealers, in entertainment companies, and in many more, so it would be no surprise to see the same spirit of competition between CVS and Mylan, as CVS decides to contend with the company in their leading product.
In a surprising upturn of events as reported by AP News, CVS has now decided to sell a generic version of Mylan's EpiPen, named Adrenaclick, at an astonishingly low price, being a sixth of Mylan's product. A few months before, the original price of the pen as sold by Mylan was far too high and was taken down and criticized before Congress. In an attempt to keep the possibility of saving a life at a reasonable price for those less monetarily blessed, CVS has decided to sell a two-pack verison of the life-saving allergy treatment at the cost of $109.99, while the EpiPen can cost more than $600.
Mylan, under scrutiny of both the Congress and President Donald Trump, has tried hard to stay afloat in these troubling times, especially since they began receiving a lot of unwanted infamy for their product rising over 500 percent since 2007, according to ABC News. In light of this, Mylan has tried lowering their price of the EpiPen by selling a two-pack at $300 but still loses to CVS, seeing as how CVS's product will be the same price to those both covered and not covered by health insurance and will also be offering a coupon for additional price breaks should the patient qualify. Whatever the reason is, CVS is even more of an impressive rival to Mylan both financially and morally with their new life-saving product.