CivicaRx, the not-for-profit entity created last year by a group of health systems and hospitals, is planning to achieve its goals of lowering drug prices and addressing shortages in hospitals by working directly with pharmaceutical companies and buying drugs, Bloomberg reported.
When the entity first came to fruition, its stated goal was to manufacture its own drugs after hospitals faced shortages for many common drugs. For now, it seems CivicaRx will serve as a marketplace entity, buying drugs from pharmaceutical companies and acting as a go-between for hospitals, according to Bloomberg.
“With that critical need, almost a national drug-shortage crisis, we had to discover what was the fastest way to get products into the market,” CivicaRx CEO Martin VanTrieste told Bloomberg.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."