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While Mylan recently announced it would provide a generic version of its controversially expensive EpiPen, Consumer Reports magazine acknowledged that a cheaper version of the medication already exists.

Prescriptions for Mylan's life-saving EpiPen medications have increased over the past four years, peaking every year in August. Last month, the number of prescriptions surpassed totals from the previous three Augusts, according to a report from athenahealth.

A Senate panel will look into Mylan's controversial price markups for the Amsterdam-based drugmakers life-saving EpiPen medication, reported NBC News.

The American Academy of Pediatrics has updated its annual flu season guidelines. The updates include a non-endorsement of AstraZeneca's nasal flu vaccine. The AAP asserts FluMist should not be used in any setting during the upcoming season.

In response to increased scrutiny regarding the price of pharmaceuticals, the Biotechnology Innovation Organization launched a national ad campaign contending that expensive biotech drugs will reduce healthcare expenses in the long run by curing diseases, according to The Hill.

While a two-pack of EpiPens has a list price of $608, one industry expert estimates that Amsterdam-based Mylan spends no more than $20 to produce the product, according to NBC News.

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