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Sen. Amy Klobuchar echoes Clinton on methodical approach to drug prices

Senator Amy Klobuchar echoed on Friday Hillary Clinton's call for a more methodical approach to monitor pharmaceutical companies from increasing drug prices after Mylan grew prices for its auto-injector EpiPen.

The Democratic presidential nominee on Friday released a new plan to fight rising drug prices with a consumer response team. Clinton has been critical of Mylan, even last week sending out a tweet that said in part: "There's no justification for these price hikes."

The U.S. senator from Minnesota said in order for this to happen, you would need economists and experts on the team.

"But what you'd be looking at ... sure there's production and innovation changes sometimes that cause price increases, so you look at that, the value to the patients, the value to the customer," Klobuchar told CNBC's "Power Lunch."

"But we can't have this situation continue where we are just responding years later realizing these prices have gone up," she said.

Klobuchar on Friday released a statement saying the Centers for Medicare & Medicaid Services found that Mylan had misclassified the EpiPen as a generic drug, resulting in overpayment for the drug by states and the federal government through the Medicaid Drug Rebate Program.

Earlier this week, the senator sent a letter to CMS asking why the device was classified as a generic drug under the program.

Shares of Mylan dropped after the report.

Mylan previously had taken steps to decrease the price of its lifesaving device. After Mylan was scrutinized from Clinton and consumers, the company announced plans to increase access to its leading product by making expansions to its already existing cost-cutting programs.

And on Monday, the company said it would launch the first generic version of the medication at half the price.