Categorized | Colorado News, National News, News

New Generic Drug Manufacturer to Make Waves

In response to the ever increasing cost and shortages of pharmaceuticals, a consortium of healthcare systems has banded together to form a not-for-profit generic drug company.   It will be tasked with manufacturing a variety of sterile injectables, tablets and patches that meet the needs of the participating systems.

The new not-for-profit company will be called Civica Rx, and will receive $100 million in backing from the seven healthcare systems and three philanthropies committed to its success.  Martin VanTrieste, former chief quality officer for Amgen, will serve as its first chief executive at no compensation.

The healthcare systems involved to date include: Catholic Health Initiatives, HCA Healthcare, Intermountain Healthcare, Mayo Clinic, Providence St. Joseph Health, SSM Health, and Trinity Health.

Read more at National Public Radio.

Read more at Forbes.

 

https://www.forbes.com/sites/elliekincaid/2018/09/05/that-nonprofit-generic-firm-has-a-name-100-million-and-a-ceo-who-will-work-for-free/#28dfb4ae4ce0

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