As Mylan's (MYL) struggles with pricing and public scrutiny continue over its Epi-Pen marketing, a small competitor is slowly stealing market share.
Impax Laboratories (IPXL) ,which makes a generic version of Adrenaclick, another type of injector that is no longer in the market in branded form, has been able to grow its market share by about 5% in 2016 alone.
The $1.33 billion Hayward, Calif.-based drug company acquired the rights to a generic version of Adrenaclick, an epinephrine autoinjector used to treat anaphylaxis and severe allergies, in 2015.
The market performance of Impax's injector has been better than expected, according to company vice president of investor relations, Mark Donohue.
Donohue said Impax entered 2016 with a 4% market share, with a goal of increasing its market share by 1% each quarter. Impax has taken 9% of market share as of November, which Donohue credits to a seasonal spike and the media attention on Mylan's pricing practices.
"A generic is a preferred choice," Donohue said by phone. "With pricing, each patient could pay as low as zero dollars."
According to GoodRX, which provides data on prescription medication, patients to whom insurers pass on the total cost of drugs, or who opt not to have insurance (and instead pay a fine) could see prices at around $455 per two pack. This is compared to the $600 price tag for Mylan's EpiPen two-pack that patients saw earlier this year.
Adrenaclick generic users, though, can get coupons and financial aid that would drop the price to less than $200 per two pack. Meanwhile, Mylan has begun offering coupons for $300 off two-packs, which drags prices down to about $300 for uninsured patients or those with high deductibles.