In the latest EpiPen news, the Food and Drug Administration (FDA) has extended the expiration dates of the popular allergy medication due to a shortage of the injection.
EpiPen is owned by Mylan (NASDAQ: MYL ) and is one of the most popular treatments for severe allergies in the form of an injection . The product is currently facing a shortage as American students are going back to school, pushing Mylan to make some adjustments.
The company has garnered approval from the FDA to extend the expiration date on some of its EpiPens by four months. However, this extension does not apply to every device in the market. Before the extension, the product had an expiration date of 20 months, although it will now considered to be effective for 24 months.
"Mylan submitted additional data to the FDA to show specific lot of its EpiPen product remained stable, retaining its strength, quality and purity for up to 24 months when stored according to its labeled storage conditions," FDA spokesperson Theresa Eisenman said to Gizmodo over email.
The reason why this extension is possible is due to the fact that some medications are given a shorter expiration date than their actual expiration date, while others are tested for stability later on to determine if it could actually expire later than previously anticipated.
MYL stock is up about 0.1% on Wednesday following the news.
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