Insulin prices have long been a pain point for diabetics. The big three insulin manufacturers have cut prices across their product lineups, but potential competition from other biosimilar insulins is still in earlier stages of development.
The ViVE conference highlighted some of the exciting developments in healthcare such as making drugs more affordable, interoperability, improving home care and holistic health.
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Civica Rx plans to make lower cost versions of three branded insulin products, biosimilars that are expected to reach the market in 2024. In addition to $30 vials, Civica plans to sell pen cartridges at $55 for a box of five.
The company, launched by SSM Health, Presbyterian Healthcare Services and Intermountain Healthcare, aims to create a marketplace for digital tools similar to the application stores on smartphones so that health systems can test and implement new solutions in weeks rather than months.
The Blue Cross Blue Shield Association and several of its licensed insurance companies created a new subsidiary of nonprofit Civica Rx. The goal is to reduce the cost of generics by developing them.
The idea behind the new company - dubbed Castell - is to use Intermountain's resources and learnings from its own efforts to shift to value-based care to help other providers on that journey.
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Vizient, a healthcare performance improvement company, will use its analytics and data capabilities to help Civica Rx anticipate gaps in drug availability and affordability.
Civica Rx, announced earlier this year, formally established with $30 million in philanthropy money, a former Amgen exec as CEO and a focus on 14 drugs facing shortages.