In the month of January, the Intermountain Healthcare made a splash when they made an announcement, which stated that they along with some other major hospital systems, who are quite fed up with the shortage of drugs and skyrocketing drugs prices are coming together and planning to manufacture their own generic drugs and medicines. They do have a good plan on how they are going to do that in the near future. The hospital system that is based in the Salt Lake City is teaming up with the HCA Healthcare, Mayo Clinic, and four others in order to form a non-profit company, which has been named Civica Rx. The company stated on Thursday that the seven organization is representing around 500 U.S. hospitals.
The initial focus of the company will be a group of around 14 generic drugs, which are administered to patients in the hospital. The consortium wouldn’t name which of them are; however, their first goal is to stabilize the supply of essential generic medicines. The company is expecting to have their first products on the market by the start of the next year. Civica Rx is going to be approved by Food and Drug Administration for the manufacturing and is either going to make their drugs itself or they will contract their work to a third party.
Van Trieste, who has been named as the chief executive of Civica Rx stated that they are creating a public asset with a mission to make sure that the essential generic medications are affordable and accessible. In addition to this, this is expected to enhance the situation for the patients by bringing the required competition to the generic drugs market.