Adamis Wins FDA Approval for EpiPen Rival

California-based Adamis Pharmaceuticals has received U.S. approval for its emergency epinephrine syringes to treat severe allergic reactions -- a rival to Mylan's EpiPen.

Adamis has not set the price for its Symjepi product yet, but plans to position the product as a lower cost alternative to EpiPen.

After a pricing debate last summer, Mylan released an authorized generic version of the EpiPen for $300 for a two-pack. CVS made an authorized generic for Impax Labs' Adrenaclick IPXL available at about $100 for a two-pack early this year.

The Adamis product should launch by the middle of this summer. The approval sent Adamis shares up more than 50 percent.

Read the Reuters press release