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California's Cure for Healthcare Costs May Include Getting Into the Generic Drug Market


Added 01-16-20 04:38:02pm EST - “Perhaps Newsom should confer with President Trump, whose policies have led to historic drug price decreases?” - Legalinsurrection.com

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Posted By TheNewsCommenter: From Legalinsurrection.com: “California's Cure for Healthcare Costs May Include Getting Into the Generic Drug Market”. Below is an excerpt from the article.

Perhaps Newsom should confer with President Trump, whose policies have led to historic drug price decreases?

California might become the first state to offer its own brand of generic prescription drugs under a proposal announced Thursday by Gov. Gavin Newsom.

The Democratic governor wants the nation’s most populous state to contract with generic drug companies to make medications on its behalf so it could sell them to its nearly 40 million residents. The goal is to lower prices by increasing competition in the generic drug market, Newsom said.

…Newsom’s proposal would create a single market for drug pricing in California, with companies having to bid to sell their medicine at a uniform price. One expert said that piece would have the bigger impact.

“Other countries control or negotiate the price of drugs, and if there is one state that could do it, it’s California, which is the size of a country,” said Larry Levitt, executive vice president of health policy for the Kaiser Family Foundation. “A drug company could walk away from Rhode Island. It’s much harder to walk away from California.”

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