FDA approves first generic version of EpiPen

On Thursday, the Food and Drug Administration approved the first generic version of the EpiPen, used to treat severe allergic reactions to everything from food to insect bites.

Teva Pharmaceuticals is now authorized to sell the generic versions of EpiPen and Epi Pen Jr., made by Mylan. "This approval means patients living with severe allergies who require constant access to life-saving epinephrine should have a lower-cost option, as well as another approved product to help protect against potential shortages," FDA Commissioner Scott Gottlieb said in a statement.

EpiPen is the most widely prescribed epinephrine auto-injector in the U.S. Mylan has come under fire for charging as much as $600 for a package of two pens. Teva has not said how much its generic version will cost.

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