ADAM BEAM
Associated Press
SACRAMENTO (AP) — California could become the first state to make its own prescription drugs under a proposal announced Thursday by Gov. Gavin Newsom, who says it would "take the power out of the hands of greedy pharmaceutical companies."
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.
His proposal also 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.
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