A Wisconsin health care provider has joined a group of health organizations that intends to produce generic drugs at lower cost to consumers.
SSM Health of Southern Wisconsin, which owns St. Mary's Hospital, is an initial governing member of Civica Rx, a new not-for-profit drug manufacturer that will be headquartered in Utah.
SSM Health is proud to be an initial governing member of Civica Rx, a not-for-profit generic drug company founded to help address shortages and high prices of lifesaving medications. #WeAreSSMHealth https://t.co/EMob24hNUu pic.twitter.com/MvbRnGIZV5
— SSM Health (@SSMHealth) September 6, 2018
The company intends to produce 14 hospital-administered generic drugs to help with drug shortages and pricing. A news release says Civica seeks to "stabilize the supply of essential generic medications administered in hospitals, many of which have fallen into chronic shortage sitiuations, putting patients at risk."
Civica Rx expects to have the first products available to the market as early as 2019, according to the release.
"We are creating a public asset with a mission to ensure that essential generic medications are accessible and affordable," said CEO of Civica Martin VanTrieste.
SSM is one of seven initial governing members which represent about 500 hospitals across the United States.