Mylan creates generic EpiPen in response to huge price hike
Mylan, the manufacturer of the EpiPen, has created a generic version of the product in order to curb outrage caused by recent price increases.
The price of the EpiPen, which treats anaphylaxis, has risen sixfold in recent years, and the widespread anger seems to stem from the opacity of the reasons why.
The cheapest price of the EpiPen is currently around $614 for two, but Mylan has made the unusual move of offering a cheaper package at $300 for two. Last week the company declared that it was attempting to increase financial assistance to allow more people to afford the branded product, and in the meantime is releasing the same product under another name.
While the price of the unbranded pen has been slashed enormously, it remains thrice the cost of the EpiPen in 2007, after which time prices accelerated dramatically year-on-year.
Consumer groups are busily signing petitions to delivery to Mylan’s US headquarters to protest the prices of this life-saving drug, upset as they are by both the enormous branded price and the generic price.
Many critics have been outspoken regarding the strangeness of a company producing two identical products at vastly differing prices when they could surely slash the cost across the board. This type of behaviour normally only occurs to undercut a competitor, but in this case, Mylan is competing only with itself.
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Ultium Cells LLC/Li-Cycle: Sustainable Battery Manufacturing
Ultium Cells LLC - a joint venture between General Motors and LG Energy Solutions - has announced its latest collaboration with Li-Cycle. Joining forces the two have set ambitions to expand recycling in North America, recycling up to 100% of the scrap materials in battery cell manufacturing
What is Ultium Cells LLC?
Announcing their partnership in December 2019, General Motors (GM) and LG Energy Solutions established Ultium Cells LLC with a mission to “ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute [to the] expansion of a Zero Emission propulsion on a global scale.”
Who is Li-Cycle?
Founded in 2016, Li-Cycle leverages innovative solutions to address emerging and urgent challenges around the world.
As the use of Lithium-ion rechargeable batteries in automotive, industrial energy storage, and consumer electronic applications rises, Li-Cycle believes that “the world needs improved technology and supply chain innovations to better recycle these batteries, while also meeting the rapidly growing demand for critical and scarce battery-grade materials.”
Why are Ultium Cells LLC and Li-Cycle join forces?
By joining forces to expand the recycling of scrap materials in battery cell manufacturing in North America, the new recycling process will allow Ultium Cells LLC to recycle cobalt, nickel, lithium, graphite, copper, manganese and aluminum.
“95% of these materials can be used in the production of new batteries or for adjacent industries,” says GM, who explains that the new hydrometallurgical process emits 30% less greenhouse gases (GHGs) than traditional processes, minimising the environmental impact. Use of this process will begin later in the year (2021).
"Our combined efforts with Ultium Cells will be instrumental in redirecting battery manufacturing scrap from landfills and returning a substantial amount of valuable battery-grade materials back into the battery supply chain. This partnership is a critical step forward in advancing our proven lithium-ion resource recovery technology as a more sustainable alternative to mining, " said Ajay Kochhar, President, CEO and co-founder of Li-Cycle.
"GM's zero-waste initiative aims to divert more than 90% of its manufacturing waste from landfills and incineration globally by 2025. Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials,” added Ken Morris, Vice President of Electric and Autonomous Vehicles, GM.
Since 2013, GM has recycled or reused 100% of the battery packs it has received from customers, with most current GM EVs repaired with refurbished packs.
"We strive to make more with less waste and energy expended. This is a crucial step in improving the sustainability of our components and manufacturing processes,” concluded Thomas Gallagher, Chief Operating Officer, Ultium Cells LLC.