Rising drug prices and shortages: Hospitals make a move

By: American Nurse Today

For years, hospitals have been dealing with sharp drug price increases and shortages. To combat these problems, hospitals are going into the drug manufacturing business. A group of major hospital systems plans to form a nonprofit company that will provide several generic drugs to the hospitals—either by manufacturing them or working with a third-party manufacturer.

The goal of the effort is to challenge the many companies that take advantage of the market by buying up monopolies of off-patent drugs and then raising prices. Everyone remembers when Martin Shkreli raised the price of an older drug from $13.50 per tablet to $750.

The Association for Accessible Medicines, the generic manufacturers’ trade group, says it welcomes the competition, and some drug shortage experts indicate that increasing suppliers will help.

Read more.

The views and opinions expressed here are those of the author and do not necessarily reflect the opinions or recommendations of the American Nurses Association, the Editorial Advisory Board members, or the Publisher, Editors and staff of American Nurse Journal. This has not been peer reviewed.

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