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Oil prices settled down more than 1 percent on Monday, snapping two consecutive days of gains, on renewed concerns about an oil glut, a stronger dollar and expectations that Nigerian rebels will stop hampering that country's crude output. U.S. West Texas Intermediate (WTI) crude finished down 66 cents, or 1.4 percent, at $46.98.
Mylan NV said it would launch the first generic version of its allergy auto-injector EpiPen for $300, half the price of the branded product, the drugmaker's second step in less than a week to counter the backlash over the product's steep price. The company reduced the out-of-pocket costs of EpiPen for some patients on Thursday, but kept the list price at about $600, a move that U.S. lawmakers and Presidential candidate Hillary Clinton said was not enough. Mylan said on Monday it expected to launch the generic product "in several weeks", an unusual move considering the branded bestseller is still patent protected and major rival treatments have failed to get regulatory clearances.