Group of U.S. hospitals officially launches nonprofit generic drug company as Civica Rx 

Some of the country’s largest health systems have officially launched their planned nonprofit generic drug company, which aims to lower the cost of medications. 

The company has been officially established as Civica Rx; it was called Project Rx in the development stages following its reveal in January. Martin VanTrieste, who formerly served as chief quality officer at Amgen, will take over as CEO. 

RELATED: Intermountain Healthcare CEO Marc Harrison—Hundreds of hospitals interested in nonprofit generic drug company 

Civica Rx has drawn interest from more than 120 health organizations—representing one-third of U.S hospitals—and initial governing members will be Catholic Health Initiatives, Intermountain Healthcare, Mayo Clinic, Providence St. Joseph Health, SSM Health, HCA Healthcare and Trinity Health. 

The company has identified 14 drugs administered in hospitals to focus on first. 

Read more on FiercePharma