ATLANTA (AP) — Hoping to harness soaring prescription drug costs, officials from six states met Friday to discuss the possibility of forming a drug-buying pool as a way to increase their leverage with suppliers.
While states already enjoy some bulk-purchase discounting, employee-benefits managers believe an even larger amount of buying power will give them more price breaks on state employees' prescription drugs.
Representatives from Alabama, Georgia, the Carolinas, Washington and West Virginia plan to convene again next month after collecting more information. Five other states wanted to attend but couldn't because their Legislatures are still in session.
The six states have more than 1 million covered employees, retirees and dependents.