Mylan NV ($MYL) announced that it is being investigating by the US antitrust authorities for its EpiPen emergency allergy treatment. The company was earlier asked for information by the Federal Trade Commission as part of a preliminary investigation. The company had been severely criticized for raising the price of a pair of EpiPens to $600 from $100 in 2008. The company was also berated for listing EpiPen with Medicaid as a generic product despite it being listed with the U.S. Food and Drug Administration as a branded product.
However, Mylan also received a little reprieve as a United States District Court for the District of Delaware issued a decision finding all asserted claims of four Orange Book-listed patents relating to Copaxone® 40 mg/mL invalid based on obviousness. The patents belonged to Teva. Mylan is looking to bring the generic version of this MS drug.
Another setback for the company in the recent times came in the form of generic EpiPen substitutes taking hold of the market. Various insurers have approved such substitutes. However, the company is looking to reach a settlement with the US Department of Justice.
Mylan stock price has remained resilient through these issues. After facing dip in January, the stock price recovered to its year opening price level. It is expected to remain subdued yet steady during the course of the year.