Mayo Clinic joins hospital groups to create new generic drug company
PHOENIX – The Mayo Clinic has joined six other hospital groups in launching a nonprofit generic drug company that will help patients by addressing shortages and high prices of lifesaving medications.
The goal of the company, called Civica Rx, is to show collaboration in solving one of the most complex health challenges of today.
“This is actually in response as to what has been happening nationwide with an increase in generic drug cost as well as a lack of availability,” Dr. Williams Stone of the Mayo Clinic in Phoenix told KTAR News 92.3 FM on Monday.
Civica Rx will directly manufacture generic drugs or subcontract to dependable manufacturing organizations.
The company has identified 14 drugs as the initial focus of its efforts and expects to have its first products on the market as early as 2019.
“Specifically from an Arizona perspective, this will give us a greater access for our patients to get the drugs they need and drive the cost down,” Stone said.
Civica Rx first will seek to stabilize the supply of essential generic medications most often used in hospitals, many of which have fallen into shortages.
The company also will provide generic medications to the retail market, offering an affordable alternative to products from existing companies.
“These generic drugs are really dependent on several manufacturers, and if they are not producing enough of them it creates a major shortage to our patients and they are not able to access to it,” Stone said.
“This is to be able to provide for these patients who cannot get access to the drugs and also to decrease the costs.”
The Mayo Clinic has main campuses in Arizona, Florida and Minnesota plus a health care system that extends into dozens of states.
The other groups involved in Civica Rx are Catholic Health Initiatives, HCA Healthcare, Intermountain Healthcare, Providence St. Joseph Health, SSM Health and Trinity Health.