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Centene said it will seek new proposals from outside companies to help it manage what it expects to be more than $30 billion in annual drug spending in the years to come.

(Bloomberg) –Centene Corp. said it will restructure its pharmacy-benefits management business following claims by several states that it had inflated drug costs at taxpayers’ expense. The health insurer recorded a $1.1 billion accounting charge earlier this year in anticipation of resolving disputes with states that alleged that the company overcharged their Medicaid programs for prescription drugs.

On Tuesday, Centene said it will seek new proposals from outside companies to help it manage what it expects to be more than $30 billion in annual drug spending in the years to come. The company’s existing contract for pharmacy services runs out at the end of 2023.

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