[ad_1]
TRENTON, NJ – Several major hospital groups on Thursday launched their own generic drug business to combat chronic shortages and high prices.
The new company, Civica Rx, plans to start with 14 widely used hospital drugs that have long been lacking. Dan Liljenquist, chairman of the board of directors, said the company did not disclose drug names for competitive reasons, but included a mix of generic pills, patches, and injectables to treat the drugs. infections, pain and heart disease.
"Civica's mission is to ensure that these drugs remain in the public domain, that they are available and affordable for all," he said.
Drug shortages have been prevalent for more than a decade, especially for inexpensive generic drugs, due to the consolidation of manufacturers, the shutdown of low-profit drug production and the resolution manufacturing problems.
Hospitals are particularly affected and often have to find rare drugs, often at very high prices, or find alternatives that may not be as effective or safe for patients.
In addition to creating a reliable supply for its 500 hospitals, Civica aims to reduce drug prices by about 20%. The drugs will also be sold to non-member hospitals at slightly higher prices, said Liljenquist.
The company, based in the Salt Lake City area, plans to manufacture some of the generics and hire companies to produce others, he added. It aims to market its first drugs by the end of 2019.
Civica was founded and funded by three health foundations and seven hospital groups, including Intermountain Healthcare, a 23-hospital system based in Salt Lake City, where Liljenquist is responsible for the strategy. Veterans Affairs and the American Hospital Association also participate.
Martin VanTrieste, Manufacturing Quality Manager at biopharmaceutical manufacturer Amgen, will head the non-profit corporation.
___
Follow Linda A. Johnson to https://twitter.com/LindaJ_onPharma
___
The Associated Press Department of Health and Science is receiving support from the Department of Science Education at the Howard Hughes Medical Institute. The AP is solely responsible for all content.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, disseminated, rewritten or redistributed.
[ad_2]
Source link
