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.

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