Hundreds of hospitals have banded together to form a pharmaceutical company that will help to combat high drug prices.
Their aim is to counter sharp raises in drug prices by certain companies who have bought up old, off-patent drugs. The sudden hike in prices has resulted in hospital shortages of basics like morphine and saline.
According to The Independent: "The new drug company will be nonprofit and provide hospitals with generic drugs either through a third-party or in-house manufacturer, with a focus on a specific set of generic drugs which have seen price increases in order to not take on the entire pharmaceutical industry."
This signal shows that the issue of drug affordability is evolving into developed world territory, and into the generics space. Can collaborations help counter private monopolies?