Hospital groups creating company to make cheap generic drugs

January 18, 2018 by Linda A. Johnson

Several major not-for-profit hospital groups are trying their own solution to drug shortages and high medicine prices: creating a company to make cheaper generic drugs.

The plan, announced Thursday, follows years of shortages of generic injected medicines that are the workhorses of hospitals, along with some huge price hikes for once-cheap generic drugs. Those problems drive up costs for hospitals, require significant staff time to find scarce drugs or devise alternatives, and sometimes mean patients get suboptimal medications.

The not-for-profit drug company initially will be backed by four groups—Intermountain Health, Ascension and two Catholic systems, Trinity Health and SSM Health—plus the VA health system.

Together, the five groups include more than 450 hospitals and many other health facilities. More health systems could join soon.

Explore further: FDA enlists companies to head off drug shortages

Related Stories

FDA enlists companies to head off drug shortages

October 31, 2013
The Food and Drug Administration is announcing a new proposal designed to head off more shortages of crucial medications that have disrupted care at hospitals and health clinics nationwide.

FDA takes steps to boost generic competition, limit prices

June 27, 2017
The Food and Drug Administration is taking steps to boost the number of generic prescription drugs in an effort to make medicines more affordable and to prevent price gouging.

As competition goes down, generic drug prices rise, study finds

July 3, 2017
If the cost of your generic prescription drug has risen, it may be due to a lack of competition among drug manufacturers, according to a University of Florida College of Pharmacy study.

States seek to expand lawsuit against generic drug-makers

October 31, 2017
Connecticut's attorney general and 45 of his colleagues are seeking to expand a federal antitrust lawsuit against generic drug-makers to include more manufacturers and medications, as well as senior executives at two companies.

US prices soaring for some generic drugs

November 13, 2014
(HealthDay)—Market forces are dramatically driving up the cost of some generic drugs, prompting U.S. investigations into the pricing of what should be cheap alternatives to brand-name medications.

Savings less than expected for generic oral chemotherapy

September 11, 2017
A study by researchers at the University of North Carolina Eshelman School of Pharmacy and Lineberger Comprehensive Cancer Center determined the cost savings for a generic version of an orally administered cancer treatment ...

Recommended for you

Drug overdose epidemic goes far beyond opioids, requires new policies

November 7, 2018
Most government-funded initiatives to address the overdose epidemic in the United States have targeted opioids specifically and have neglected other drugs that are increasingly implicated in overdoses, such as cocaine and ...

Zebrafish larvae help in search for appetite suppressants

November 2, 2018
Researchers at the University of Zurich and Harvard University have developed a new strategy in the search for psychoactive drugs. By analyzing the behavior of larval zebrafish, they can filter out substances with unwanted ...

FDA OKs powerful opioid pill as alternative to IV painkiller

November 2, 2018
U.S. regulators on Friday approved a fast-acting, super-potent opioid tablet as an alternative to IV painkillers used in hospitals.

Amphetamine-related hospitalizations surged between 2003 and 2015

November 2, 2018
An analysis conducted by Hennepin Healthcare, University of Minnesota School of Public Health and University of Michigan researchers shows amphetamine-related hospitalizations increased more than 270 percent from 2008 to ...

Cocaine-fentanyl overdoses underscore need for more 'test strips' and rapid response

November 1, 2018
Penn Medicine emergency department physicians are calling for more readily available testing strips to identify the presence of fentanyl in patients experiencing a drug overdose, and a rapid, coordinated response among health ...

Combination drug targeting opioid system may help relieve symptoms of major depression

October 29, 2018
Two clinical trials of an investigational drug that targets the opioid system support its safety and effectiveness in reducing symptoms of major depression, when added to standard antidepressant treatment. The results of ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.