U.S. health officials have approved a new generic version of EpiPen, the emergency allergy medication. The Food and Drug Administration’s action Thursday opens the door to more competition for a drug that has faced public outrage over its price tag. The injections are stocked by schools and parents to treat allergic reactions to food and bug bites. The new generic version will be sold by Teva Pharmaceuticals. EpiPen maker Mylan has dominated the $1 billion market for two decades and competing shots are not widely marketed or prescribed by doctors. In 2016, Congress blasted Mylan for raising the price to $600, a five-fold increase over nearly a decade, in which the company responded to by launching its own lower-cost generic version for $300.
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