Blue Shield of California aimsto produce 5 to 10 low-cost generic drugs in its initial effort,and the BCBSA/Civica group hopes that the first will be availableby early 2022. (Photo: Shutterstock)
It may sound counter-intuitive, but a group of insurers ispartnering with the "public asset" Civica Rx to bring down the cost ofprescription drugs by producing generic versions at lowerprices.
The New York Times reports that the insurers—the Blue Cross BlueShield Association and 18 of its member organizations—have pledged$55 million in a partnership agreement with nonprofit Civica Rx "tocreate cheaper versions of expensive generic drugs for which thereis little competition."
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
