TRENTON, N.J. (AP) — Several major hospital groups are starting their own generic drug company to tackle chronic shortages and high prices.
The new company announced Thursday, Civica Rx, plans to start with 14 widely used hospital drugs long in short supply.
Those will include a mix of generic pills, patches and injectable drugs for treating infections, pain and heart conditions.
The first medicines should hit the market by the end of 2019. The company’s member hospitals could see savings of about 20 percent.
Drug shortages have been widespread for more than a decade, particularly for inexpensive generic drugs. Hospitals are particularly hard hit and frequently must scramble to find scarce medicines or come up with workarounds.