To address the critical risks posed to patients from chronic shortages and rising prices of life-saving generic medications, the Peterson Center on Healthcare has committed $10 million to help establish Civica Rx, a new not-for-profit generic drug company.
The Center has joined with the Laura and John Arnold Foundation, the Gary and Mary West Foundation, and more than 30 U.S. health systems—representing approximately 900 U.S. hospitals—to stabilize the supply of essential medications by ensuring affordability and availability.
As members of the Civica Rx Board of Directors, the three foundations will work to further support and safeguard the company’s non-profit, social welfare mission to provide affordable, essential generic drugs to ensure a predictable supply and competitive marketplace.
Upon launch, the company identified 14 hospital-administered drugs as its initial focus, and the first products are expected to be released as early as 2019.
The Laura and John Arnold Foundation, Peterson Center on Healthcare and Gary and Mary West Foundation each commit $10 million to a new, not-for-profit generic drug company.READ MORE