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A new company will sell generic medicines at cost. Photo: George Frey/Getty Images

Eighteen Blue Cross Blue Shield insurers are investing a combined $55 million to build a new generic drug company as a subsidiary of the nonprofit Civica Rx. The firm will focus on manufacturing generics people get at the pharmacy.

Between the lines: Civica and the Blues aren't disclosing which drugs they want to make, so it's unclear how much effect this company will have. But the investment highlights the broad desire to counter generic companies that are accused of price-gouging.

What they're saying: The new company is evaluating a list of 30 to 40 generic drugs that have little or no competition and are deemed to be "high-priced," Civica CEO Martin VanTrieste said.

  • "If you're in the supply chain and you're causing that artificially high price, you should be concerned," VanTrieste said.

Yes, but: Pharmacies have contracts with wholesalers that usually require them to buy a vast majority of their drugs from that wholesaler.

  • Veering outside of that system, even to get cheaper drugs, may not be easy, and may not guarantee quick access to those drugs.
  • However, the Blues plans are now trying to recruit retailers and pharmacies to join and buy the generics that will start rolling out in 2022.

The bottom line: Civica has already started distributing hospital-based drugs. This effort similarly hinges on which drugs are targeted and how cheap Civica's new subsidiary can make them.

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
2 hours ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”

You’ve caught up. Now what?

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