Generic EpiPen approved by FDA

The FDA has approved the first generic competitor to the EpiPen.

The EpiPen is used in an emergency when a person has a severe allergic reaction to things like food or insect stings.

Mylan, the company that sells the EpiPen, drew intense criticism a few years ago when it increased the price of an EpiPen twin-pack to $600.

Now, Mylan does offer its own generic version for around half that price.

But now the new generic from Teva Pharmaceuticals could drive the prices down even more.

Parents and those heavily involved in raising awareness for allergies say this kind of competition in the market is long overdue.

"When we go to buy shirts, shoes, cars or any kind of thing in the grocery store, we have so many choices from so many different brands. I think to bring down these barriers to entry so that American families can have affordable choice in this particular product category is going to be what saves lives,” said Robyn O’Brien, a food allergy awareness advocate.

The price for the generic has not been announced yet. However it should be available in the coming months.