Richmond, Va.-based Kaleo is facing heat from Senator Amy Klobuchar (DFL-Minn.) over the company's auto-injector device that carries a $4,500 price tag, CNBC reports.
Here are five things to know:
1. The device aims to reverse the effects of allergic reactions and opioid overdoses.
2. In a letter to Kaleo CEO Spencer Williamson and Sen. Klobuchar said the company has an important role to play in combating the opioid epidemic and therefore should make the injector affordable for Americans.
She wrote, "Your price of $4,500 for a two-pack is especially disturbing, as more competition should mean lower —rather than higher — prices for epinephrine injectors. We must make the market work for consumers."
3. Kaleo took Auvi-Q, the auto-injector, off the market at the end of last year for potential dosing issues. However, the injector device is set to hit the market on Feb. 14, 2017.
4. While two packs cost $4,500, Kaleo said the device has a $360 guarantee cash price for Americans lacking insurance. Kaleo will also provide financial assistance if a consumer's payer does not cover Auvi-Q.
5. When news surfaced about Auvi-Q's return to the market, Mr. Williamson said Auvi-Q will not cost a commercially insured patient out-of-pocket compared to any competing device, branded drug or generic.
