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 not-for-profit generic drug company.
The Center has joined with the Laura and John Arnold Foundation, the Gary and Mary West Foundation, and over 50 U.S. health systems—representing more than 1,400 U.S. hospitals—to stabilize the supply of essential medications by ensuring affordability and availability.
As members of the Civica 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.
Currently, over 20 Civica medications are now in production and/or shipped to help secure the supply of quality medications at fair prices.
In January 2020, Civica expanded its mission to reach individuals and families buying generic prescriptions in pharmacies. Through a partnership with the Blue Cross Blue Shield Association and 18 independent and locally-operated Blue Cross and Blue Shield companies, Civica launched a subsidiary dedicated to lowering the cost of select generic drugs. The subsidiary is being formed in response to the impact of high drug costs on the health of Americans and the overall affordability of healthcare. Other health plans, employers, retail partners and healthcare innovators who share the belief that patients and their needs come first are invited to join the initiative.
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