An alliance of health systems is reportedly forming a nonprofit to develop their own generic drugs to combat drug shortages and high prices.
According to a CNBC report, Intermountain Healthcare, Mayo Clinic, HCA Healthcare and four other systems are working together to create the nonprofit called Civica Rx.
Civica named former Amgen chief quality officer Martin Van Trieste as its chief executive.
“We are creating a public asset with a mission to ensure that essential generic medications are accessible and affordable,” Van Trieste said in a statement. “This will improve the situation for patients by bringing much needed competition to the generic drug market.”