Kaleo says it will introduce competitor to Mylan's EpiPen in first half of 2017

Kaleo Inc. stated early Wednesday that its epinephrine vehicle-injector, a competitor to Mylan's MYL, +2.98% EpiPen hypersensitivity treatment that had formerly been recalled, must return to market inside the first half of of 2017. Kaleo, a privately-held agency, stated it had regained the rights from Sanofi SNY, -0.98% which voluntarily recalled the Auvi-Q a year in the past on issues approximately incorrect dose delivery of epinephrine. Kaleo did no longer say what the Auvi-Q's fee could be. Public outrage erupted this summer season over the EpiPen's growing charge, which customers said made the product -- which has an powerful monopoly available on the market and a listing price of over $600 for a two-p.c. -- unaffordable. Mylan stated it'd introduce a $300 authorized well-known product, which the business enterprise stated it plans to make available through the quit of the year. The complete affair has taken a toll on Mylan, with its inventory chickening out 28.five% year up to now, in comparison with a four.nine% upward thrust within the S&P 500 SPX, -zero.38%