Health Insurers Articulate Plan to Manufacture Their Own Drugs
Via the Los Angeles Times:
A group of leading U.S. health insurers, frustrated by the high cost of prescription drugs, plan to start manufacturing versions of popular generic medications, hoping the competition with pharmaceutical companies will bring down costs. The move — the latest salvo in the escalating battle to control drug prices — highlights the failure of the Trump administration and Congress to deliver relief for millions of Americans struggling to afford their medications. The announcement also comes as the state of California is exploring its own drug manufacturing plan. Neither effort would affect the high price of branded pharmaceuticals, which is the largest driver of U.S. drug spending. But the move could pressure drug makers to rein in prices, particularly manufacturers that have dramatically hiked prices on products that have been on the market for years, even decades. Leading the new effort is a consortium of 18 independent and locally owned Blue Cross and Blue Shield health plans, including Oakland-based Blue Shield of California, which is helping to spearhead the $55-million effort.
Source/more: Los Angeles Times
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