300 U.S. Hospitals apparently to start a company to manufacture generic drugs for which they’re experiencing shortages or price hikes.
Anthony R. Tersigni, the chief executive of Ascension, said he and other hospital executives felt they had little choice but to try to solve the problem themselves. “We took the position collectively rather than waiting and hoping for the generic drug companies to address it,” he said. “We have to address it head on.”
Intermountain executives said that they would seek approval to manufacture the products from the Food and Drug Administration, which has vowed to give priority to companies that want to make generics in markets for which there is little competition.
Hopefully this collective action is wildly successful and the group moves into drug development as well.