Cigna Will No Longer Cover Mylan's EpiPen

Health insurance giant Cigna (CI) - Get Report said it will no longer cover Mylan's (MYL) - Get Report EpiPen, which controversially hiked prices in 2016. Amid the negative press, Mylan ended up offering a coupon to reduce the drug's price.

Cigna says patients should use Impax's (IPXL) generic version of the drug.

"The generic version, available now in pharmacies, has the same drug formulation and device functionality as the branded medication, but at a substantial cost savings," Cigna spokeswoman Karen Eldridge said in a statement.