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Mayo Clinic

Group of major American hospitals are fed up with drug companies, so they're starting their own

Group of major American hospitals are fed up with drug companies, so they're starting their own

A group of major American hospitals, battered by price spikes on old drugs and long-lasting shortages of critical medicines, has launched a mission-driven, not-for-profit generic drug company, Civica Rx, to take some control over the drug supply.

Backed by seven large health systems and three philanthropic groups, the new venture will be led by an industry insider who refuses to draw a salary. The company will focus initially on establishing price transparency and...

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