A new generic EpiPen made by Teva Pharmaceuticals carries a $300 list price — the same price as the generic EpiPen that Mylan rolled out in 2016, following widespread criticism of the company's large price hikes on the life-saving drug. It's unknown how much Teva's product will cost after taking out rebates paid to health insurers and pharmacy benefit managers.
Flashback: The FDA approved Teva's generic EpiPen in August, when Commissioner Scott Gottlieb said "patients living with severe allergies ... should have a lower-cost option."
Air ambulances can cost tens of thousands of dollars, and often don't provide an explanation of why they're medically necessary when there are ground options available, CNN reports.
By the numbers: Almost 50 million Americans didn't live within an hour of a level 1 or 2 trauma center as of 2005, and rural hospitals have closed in droves since then. Air ambulances have filled that gap, growing dramatically just in the past few years. Their price tags keep growing, too — the median cost of an airlift is now about $30,000, per CNN.
CVS Health has received all the necessary state approvals for its takeover of Aetna — a deal valued at $77 billion including debt — and now expects the deal to be completed by Wednesday, CVS said in a regulatory filing. New York and California were the main sticklers after the federal government conditionally approved the deal in October.
The big picture: We are now just days away from one of the largest pharmacy chains and pharmacy benefit managers absorbing one of the largest health insurers into a single conglomerate with $220 billion of annual revenue. CVS has said the deal will save at least $750 million in the second year, although it's unclear how patients would benefit.
A Chinese scientist says he has successfully used the gene-editing tool known as CRISPR to produce genetically engineered children, according to the Associated Press.
Why it matters: Gene editing has the power to spare a child from painful, fatal diseases. It also has the power to basically become a form of eugenics.
More than 2 out of 5 Americans say paying for their prescription drugs in the past year was difficult, even though most have health insurance, according to a new survey from GoodRx, a consumer site that compares drug costs.
Why it matters: Drug prices are a top public concern because many people take medications every day and see the toll on their wallets. The survey shows people aren't really feeling any relief amid the political promises to address the issue.
