Newsom Proposing Plan to Launch CA Prescription Drug Label

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By KNX 1070 NEWSRADIO

The cost of healthcare is "too damn high," Governor Newsom said in a statement

He's backing a plan to dramatically lower the cost of prescription medicines by getting into the drug business.

The governor wants to strike a deal with drug makers to start making a California-specific brand of a number of generic prescription meds.

He's set to announce a bulk-buying plan that would have the state negotiate deals with drug companies.

The governor's office says the state could partner with several drugmakers, buy in bulk, and pass the savings on to California consumers.

More information on this ambitious plan is expected when Newsom releases his state budget tomorrow. 

A few months back Newsom leveraged California's buying power by negotiating big drug discounts for state-run hospitals.