Blue Cross insurers to help launch nonprofit drug company to lower prices https://t.co/sLJvW3IfIA pic.twitter.com/Mhf7nkrQfX— The Hill (@thehill) January 23, 2020
BigPharma© has become quite the bugaboo of late, and of course the ever-increasing price of often life-saving meds has been an issue for quite some time. Nice to see one of the 800 pound insurance gorillas bringing its own guns to bear on the problem:
"Health insurers usually just pay for drugs that are made by drug companies, but now a group of 18 Blue Cross Blue Shield health insurers is helping to create a nonprofit drug company to make certain generic drugs itself, targeting medicines where there is a lack of competition and a need to bring down prices."
Of course, this is hardly an altruistic move (the carriers themselves acknowledge this), but at least there's some positive action being undertaken.
Kudos, BX!
"Health insurers usually just pay for drugs that are made by drug companies, but now a group of 18 Blue Cross Blue Shield health insurers is helping to create a nonprofit drug company to make certain generic drugs itself, targeting medicines where there is a lack of competition and a need to bring down prices."
Of course, this is hardly an altruistic move (the carriers themselves acknowledge this), but at least there's some positive action being undertaken.
Kudos, BX!
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