Sick of high drug prices, insurers join hospitals to make their own generic medications

New York (CNN Business)Everyone complains about high drug prices. But hospitals and now insurers are trying to lower costs by manufacturing their own generic medications. Now insurers want in. The Blue Cross Blue Shield Association, along with 18 independent Blue Cross and Blue Shield insurers, announced Thursday they are pumping $55 million into Civica to form a subsidiary aimed at lowering the price of costly generic drugs consumers buy at pharmacies and through mail order. The subsidiary will initially focus on manufacturing seven to 10 high-priced medications, with the first…

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