- New not-for-profit company
Civica Rx is established by seven hospital systems and 3 charitable foundations (as reported in FORBES) to address a persistent drug shortage problem that has become a national crisis for hospitals and patients.
- New leadership
Civica Rx announces that Dan Liljenquist, SVP and chief strategy officer at Intermountain Healthcare, will serve as chair of the Civica Rx board and Martin VanTrieste, a former Amgen executive, will be its inaugural CEO. VanTrieste, a renowned industry leader in the areas of global drug quality, safety and supply, is later tapped to be a panelist, along with other Civica Rx hospital system members, at an event hosted jointly by the FDA and the Duke Margolis Center for Health Policy called “Identifying the Root Causes of Drug Shortages and Finding Enduring Solutions.” Civica Rx’s new management team takes shape in 2H 2018. These leaders bring experience in drug development, manufacturing, quality/regulatory compliance, and all aspects of pharmaceutical operations necessary in assuring the availability, quality and affordability of generic (and branded) medicines.
- New and unique business model
Civica Rx unveils a new and unique disruptive business model designed to ensure essential generic medicines are consistently accessible and affordable within a robust and reliable supply chain. The model makes clear that, as a nonprofit organization without shareholders, no member of Civica Rx will have an equity interest in the company and the governance structure makes it virtually impossible to sell or change Civica Rx’s nonprofit mission. The key points to the Civica Rx disruptive business model include establishing a not-for-profit approach, promoting competition, establishing fair and sustainable prices, providing one single and transparent price, creating long term guaranteed contracts, securing redundant manufacturing, developing safety stocks, and providing transparency to the location of manufacturing sites.
- New patient-focused drug selection advisers
Civica Rx becomes a societal asset that acts in the best interest in of patients. Hospital systems and philanthropy partners work to determine the drugs that Civica Rx will supply based largely on the most urgent need. The process for drug selection goes through a newly created Civica Rx Drug Selection Advisory Committee and is approved by Civica Rx’s governing board. Civica Rx will only prioritize medications that make a difference to patients.
- New hospital systems join effort to make essential generic medicines accessible and affordable
More than 150 US health systems contact Civica Rx and express interest. By the time we welcomed the new year, we were able to announce that 12 new health systems joined Civica as Founding Members! Press Release