Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ) joined 17 other Blue Cross Blue Shield plans across the country to announce a collaborative partnership with Civica to create a new subsidiary dedicated to lowering the cost of selected generic drugs.

The partnership is expected to provide hundreds of millions of dollars in savings for consumers and promote competition in the generic drugs market.

Civica, a nonprofit generic drug maker founded in 2018 by three national philanthropies and a group of health systems to address prescription generic cost and supply challenges facing hospitals, will extend its efforts as a result of this partnership to produce certain generics taken outside the hospital setting.

Read more at NJ Biz.