The FDA just approved the first generic version of EpiPen — a move that the agency says could help lower costs for the lifesaving drug for allergic reactions. It’s not clear how much the generic EpiPen — which will be sold by Teva — will cost. Mylan, which markets EpiPen, sells a pair at a list price of $608.61 and also sells an “authorized generic” version at $300 a pair. Teva’s approval comes two years after Mylan landed in hot water for dramatically increasing the price of EpiPens while using its monopoly power to keep competition at bay. Since 2004, Mylan has raised the price of EpiPen by more than 450 percent.

Read full story by Ike Swetlitz in STAT News