Civica RX, first nonprofit drug manufacturing company, launched by hospitals, foundations
Seven hospitals and three philanthropic foundations announced Thursday the launch of the first nonprofit pharmaceutical company, which will produce generic versions of more than a dozen life-saving medications with the aim of stabilizing drug shortages and cutting health care costs.
The company, Civica RX, will produce 14 generic drugs at prices 20 to 90 percent lower than currently on the market, said Dan Liljenquist, board chairman of the company.
“We’re interested in markets that are broken, where supply is unpredictable and where the prices are also, equally unpredictable,” he told The Washington Times.
The company didn’t name the 14 drugs it will manufacture, but Dr. Marc Harrison, president and CEO of Intermountain Healthcare, said the company will focus on “practical” drugs.
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