Nonprofit generic drug venture drawing hospital members

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This sounds like a solid, workable idea to get around the stranglehold of Big Pharma:

A nonprofit generic drug company led by some well-known U.S. hospital systems and the Department of Veterans Affairs is trying to expand the market for inexpensive medicines — fast.

The nonprofit aims to fulfill two needs. It wants to produce generic drugs that are in short supply. And it’s trying to create more competition for pricey, older off-patent drugs so that they become more affordable.

The fast-rising company could soon count one-third of all U.S. hospital operators as its members.

Seventy hospital systems have expressed interest in joining the venture since its launch about six weeks ago, said Dan Liljenquist, vice president at Intermountain Healthcare in Utah, one of the lead institutions behind the project, on Monday.

[…] The nonprofit — led by Intermountain with Ascension, SSM Health, Trinity Health and the Department of Veterans Affairs — plans to directly ship to hospitals, bypassing wholesalers and other middlemen to keep costs down. It will also publish product prices. There will be a single market price and justifications for increases driven by higher raw material costs or investments in new manufacturing, similar to how public utilities defend rate adjustments.

2 thoughts on “Nonprofit generic drug venture drawing hospital members

  1. Any non-profit group is a-okay in my book.

    All utilities should be non-profit ventures. Like public schools.

  2. Utilities are looking down the barrel of the future arriving here in the present: consumption of electricity has leveled off and stagnated since 2010, decoupling demand from GDP, and the privately owned utilities are having a cow about it.

    They should have known this was coming, as it has been a national priority since the Carter administration, but I guess there was too much money to be made to bother with such details.

    All of my prescription meds are generics, and I get them at the Highland Hospital Pharmacy for $1.25 a script, up from the $1.20 they charged me for years.

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