NEW YORK (TheStreet) -- Shares of Mylan (MYL) - Get Mylan N.V. (MYL) Report were rising in pre-market trading on Thursday after the company said it would lower the out-of-pocket cost of its EpiPen, which treats life-threatening allergies.
The pharmaceutical company said it would reduce the patient cost of the EpiPen by using a savings card, which would cover up to $300 for the EpiPen 2-Pak, according to a statement.
For patients that were previously paying the full amount of the company's list price, this effectively reduces their out-of-pocket cost exposure by 50%, Mylan noted.
Additionally, the company said it is doubling the eligibility for its patient assistance program, which eliminates out-of-pocket costs for uninsured and under-insured patients and families.
"We recognize the significant burden on patients from continued, rising insurance premiums and being forced increasingly to pay the full list price for medicines at the pharmacy counter," CEO Heather Bresch stated.
Yesterday, TheStreet's Jim Cramer said EpiPens "should not be just for rich people."
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on Mylan stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MYL