meg terrell has more. >> reporter: when the price of mylan's epipen skyrocketed more than five fold in decade, many called the lack of competition a main driver. today a generic competitor emerged, but it's made by mylan itself. the company announced it's introducing a so-called authorized generic version of the epipen. it's an identical product at half the price. it's not unusual for drug companies to introduce their own generics when they anticipate competition to a brand name drug. but what's unique in this situation is that there is no generic competitor. israelly drug maker testifia was rejected earlier this year. analysts say this move may have been driven more by political pressure on mylan than financial decisions. the company's initial response last week offering co-pay assistance to patients but not lowering the price didn't satisfy critics. investors of mylan hope this step may take some of the pressure off the company by lowering costs for consumers. >> i think this is a clever move in the part of mylan but it is a move that's going to provide a lot of assistance to some co

far more expensive than a typical generic produced by a competitor - usually 90% cheaper.cnbc's meg terrell says mylan is essentially just changing the label.(sot-cnbc 13:44:09)"it is an identical product and they're calling it an authorized generic." (cut/edit 13:44:19) "in this case, mylan still has the whole market of the generic and the whole market of the branded!"last week, ceo heather bresche told cnbc the millions of dollars on product development:(sot-cnbc aircheck) bresche: "you need the exact right amount of epinephrine in seconds. and that's what our auto injector does. safely and it needs to work every time." but the drug itself, epinephrine, has been around for 100 years and costs just $3. analysts say the plastic auto injector is also cheap. epipens earn the company more than $1-billion a year. in may, bresche told wall street analysts:"...i think you'll see opportunit continue to have that price per pen that was tom costello.no word on when mylan's generic epipen will be released. in today's tech news...apple fans... get ready... your favorite tech giant is expected to unvie

meg terrell says that mylan is just changing the label. >> it is an identical product, and they're calling it an authorized generic. mylan still has the whole market of the generic and the whole >> reporter: last week the ceo told cnbc the company has spent millions of dollars on product development. >> you need the right amount of epinephrine injected in seconds. and that's what our auto injector does. safely and it needs to work every time. >> reporter: but the drug itself epinephrine has been around for 100 years and costs only $3. analysts say the plastic auto injector is also cheap. epipen has earned the company more than a billion dollars a year. in may, a statement i think you'll see opportunities for us concern among consumer advocates that parents may stick with the more expensive brand name they know. >>> lost late word tonight that the fbi is warning state election officials to enhance security on their election systems. pete williams is on the story tonight from washington. pete, what can you >> reporter: this comes after an attempt to hack into two election systems this summer

and usually 90% cnbc meg terrell said they are changing the label. >> it's an identical product and they calling it an authorized generic. in this case mylon still has the whole market of the generic and the whole market of the branded. >> last week c ceo said the companies that spend hundreds of millions of dollars on product development. >> we need the exact right amount in seconds. every time. >> but the drug itself has been around for 100 year and cost just $3. analyst say the mrafist auto injector is cheap. epipins earn the kwaen more than a billion per year. in may breech told wall street analyst i think you will see opportunities for us to continue to have that price per pin increase. >> consumer advocate are concerned that anxious parents will keep buying the more >>> absolutely. so a lot of people will be looking forward to it. i'm sure with a lot of those allergies out there. just ahead on "today in new england" here at 9:40; a record catch down south. how one group was able to real-in this huge gator the mississippi. find out why taylor swift took time away from music after sh

our meg terrell joins us now and tries to make sense of this.nfused because mylan is a generic drugmaker what do they consider the product now they are being criticized for now, meg, given they've raised the price so much? >> usually when a company is preparing for generic competition to a branded product to enter the marketplace it's not unusual for them to plan to launch their quote/unquote authorized generic, an identical version of the branded product on the market and that is what mylan is doing here essentially the generic epipen will have a list price of half the list price of the branded so about $300 for a two pack, identical to the product available in -- available in the same dosage forms and plan to make it available over the next couple weeks. what's unique is there isn't a generic product from a competitor launched so they're doing this in response to all of this pressure that's been put on them about the price. now, mylan's ceo heather bresch putting out a statement saying because of the complexity and opaqueness of today's brande

meg terrell. a look at crude falling below 48.re is it headed and what does that mean for the markets? we'll talk about that. a former gop official under reagan calling on trump to, quote, do the right thing and end his campaign. he's going to join us to make his case in a moment when "squawk on the street" comes back. this just got interesting. why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden

meg terrell, not on the trading side, the news side. volumes exploding.atility is only half of what it was at the highs of year, mel, which i guess you'd expect, because 28 and not 10 when it traded down through 10, traded into the 8s, when the volatility got up over 400. them looking like, as steve said, something by the end of month or get news by the end of the month, where the bets are. >> all right. hit trader blitz. first up, intuit. first quarter guidance? josh? >> depends if you're a trader or investor. investor, company will be fine. quick books user, small business ecostill. all up huge double digits. a trader, just snap the 50-day to the down side. maybe give it time before it sets back up again. i think long-term, it's good. >> express thinking about missing on the top and bottom lines, recording an 8% deline in comp sales. >> clearly, bad quarter. down 25% seems way overdone. i don't think the company has materially changed in its one quarter less today than it was yesterday. >> context, up 12% over the past couple weeks because of retail in

meg terrell. thanks for calling in. talk soon. >>> josh, steph and jon, all bought brittle myers.>> bought it for clients, bought it in the pre-market even, judge, before some of the more in-depth stuff was actually coming out, just because we believe this company is not just about one drug. not a one-trick pony, but when you spend the money to get to the phase three, which meg can talk about ad nauseam, a drug i phase three you've spent hundreds of millions of dollars to get to the that point. why they're hitting the stock so hard today because of the spend. they're not going to shelf this thing or throw it away. just as meg said, they're more likely, judge, i believe, to move on concentrating on a different group of patients, and saying, okay. this works, and/or it works as a cocktail -- that move in, steph in bristol-myers, coincides with the comment of the biggest surprise of his career? >> i understand. >> what gave you confidence to get into it today? >> even take out the numbers, about 2 billion, take out 5 billion over the next five years. but we don't even know what it wi

so what will be the next big deal in some this space in meg terrell has the details. >> the question be according to investors what is not going to be the next big deal in the space. lots of speculation going on. so let's talk about a couple names. in-cyte is one of them working in cancer. they have both approved drugs and drugs in the pipeline making them similar to medivation and stock up almost 8% today. another one folks are talking about, biomari pharmaceutical. that one quoted specifically for sana it fee. and vertex work in cystic fibrosis. a couple names have been talked about including tesaro and clovis because of their similarities to medivation. both traded up as well. and we'll end on a breast cancer drug. you can see a continuing theme in cancer drugs and rare diseases. these are areas that pharmaceutical companies are looking to buy. >> and sanofi, who are potential buyers? >> i can't position think of on hasn't been named. you also hear names like astrazeneca continuing to work. bio gen is a potential target and buyer. so any of the big companies with cash are probably

. >> meg terrell, thank you. >>> and facebook on a run. see what the guys think next. before the break, look at your sector tech. we're back in two. hey gary, what'd u got here? mobile trading desk adoy is a so that i can take my tring atform wherever i go. u knselessly syncs across alyour devices, righ ywhe yant to go!stom sties will go with me? thmarket's hot! sync your platform on anydevic. ether 's bringingtrade cutting-connected.to 35,000 fans. or keeping as businees count on communication, ether 's bringingtrade cuand counication counts on centurylink.keeping as uspensful music] amreal is making new friends. amazing isetting this close. real is an animal reue. amazing over twen-seven thousand of them. there's ly o place where real and amazing live. book aeaworld vacation package and t free. >>> welcome back to the "halftime report." approaching 12:30 on the east coast. in the green across the board. a change that happened in the past five minutes or so. the s&p 500 a push higher on the tlt. etf that tracks bond markets. interesting pushes higher here as we are ju

. >> and meg terrell knocked it down relating to allergan early. >>> next up, one analyst says now is time to get into this oil name. our call of the day. tesla's quarterly report due after the bell. elan must deliver. >> always a bull market somewhere. >> nasdaq, echolab and the ice. exchange doing well. >>> back after this. at the marine mammal center, the environment is everything. we want to do our very best for each and every animal, and we want to operate a sustainable facility. and pg&e has been a partner helping us to achieve that. we've helped the marine mammal center go solar, install electric vehicle charging stations, and become more energy efficient. pg&e has allowed us to be the most sustainable organization we can be. any time you help a customer, it's a really good feeling. it's especially so when it's a customer that's doing such good and important work for the environment. together, we're building a better california. for phillips, two things. valuation, you mentioned. price target actually didn't change with the upgrade. just a matter of the stock sort of retracing

our meg terrell is here. meg probably knows more about the specifics. i'll let you make your case.point i'll make is, when, you know, you've got two opposing private sector corporations that are both in the business of trying to maximize profits for shareholders. i don't think you need to be finger-pointing and saying, you're trying to maximize profits more than we are, or you are more than -- that's what private corporations do, and competition and innovation is what holds back things from going up. but the thing -- we can all be utilities, if you want, and we can pay out every dime that we make and just cover expenses, but that's not what private corporations do. so before both sides start pointing fingers at, oh, you're just greedy profit mongers, that is the system. that's what we do. we just need competition to clean it up, right? >> i totally agree. and that's why i was surprised that mylan blamed pharmacy management producers, and for all these convoluted things about why they raise the price of their drug. just raise the price of the drug if you want to, but don't blame oth

meg terrell at hq with the latest. >> this has been hurting mylan stock this week, taking a breatheressure today. however the focus really is turning now to ceo heather bresh with multiple profiles coming out overnight looking into her background and in particular, her connections to congress. the daughter of west virginia senator joe manchin whose colleagues in the senate many of whom are asking to look more deeply into the epi pen price increases from senator blumenthal yesterday calling for federal inquiries to senator chuck grassley who sent a letter to bresh asking what's gone into the price increases of epi pen. also asking for more inquiries. another focus today is looking at heather bresh's compensation. "today" show piece this morning, juxtaposed the increase in her compensation with the increase in the epi pen price, of course. that has gone up what senators have quoted more than 400% since mylan acquired the drug. i did reach out to mylan to see if they had a comment op specifically the story about bresh's xep sayings and juxtaposition with the prices and they responded no

meg terrell at hq with the latest, looks like the stock is up but tough week for those shareholders ofk. >> yeah. very tough week for mylan shareholders. the pressure may be coming off today probably what heather bresch the ceo of mylan was aiming for yesterday when she pointed the finger at the middle men in the drug supply chain. this, of course, bringing pharmacy benefits managers and drug distributors into light seeing express description and skrshgs vs and [ inaudible ] all of them sort of rebounding today but yesterday was a tough day for them. we actually talked with express scripps chief medical officer about whether there should be more transparency in the whole system. here what's he said. >> we love transparency for our patients. patients should know what they're going to pay when they go to the pharmacy counter. we love transparency for our clients. they can come in and audit their contracts, they know exactly what they're going to be required to pay for our -- the products we help them adjudicate. what we don't want is transparency for our competitors. >> now express scrip

. >> since he -- if you call brent he was telling people including meg terrel, he's not buying biogenreported on it. the merck side is a little mu y murkier. >> from philadelphia. merck produced murk. >> some confidence nothing going on involving biogen. >> we have to float something else, david. >> oh, no. >> it's not us that does that. it's some other media outlets. we stick with the four walls of the truth. >> we try. >> drag. >> it is a drag. >> drag. we have the opening bell coming in about 4:30 or so. a lot more to talk about on "squawk on the street." please stay with us. welcome to opportunity's knocking, where self-proclaimed financial superstars pitch you investment opportunities. i've got a fantastic deal for you- gold! with the right pool of investors, there's a lot of money to be made. but first, investors must ask the right questions and use the smartcheck challenge to make the right decisions. you're not even registered; i'm done with you! i can...i can... savvy investors check their financial pro's background by visiting smartcheck.gov >>> you're watching "squawk on th