Forbes January 23, 2020
Blue Cross and Blue Shield health insurers are launching their own nonprofit drug company with Civica Rx to create alternatives to “high-cost” generic prescriptions that haven’t come down in price.
The Blue Cross Blue Shield Association, a Chicago-based national trade group that represents some of the nation’s biggest health insurance companies, said 18 Blue Cross and Blue Shield companies are spending $55 million to create a new subsidiary of the nonprofit generic drug maker Civica Rx to “acquire and develop abbreviated new drug applications (ANDAs) for select generic drugs.”
These health insurers won’t be investing in research and development like brand name drug giants Pfizer or Merck, but will partner with Civica “and manufacturing partners to bring more affordable generic...
Today's Sponsors
Today's Sponsor