FDA Approves Teva’s Generic Version of EpiPen Injector

WASHINGTON—The Food and Drug Administration approved the first generic version from a rival company of Mylan’s EpiPen injector device for life-threatening allergic reactions, the most widely-sold such device in the U.S.

The product, whose brand-name version is manufactured by Mylan NV, touched off a furor two years ago over its price increases of 548% over about a decade.

The…