Paul to Damon: Negotiate lower drug prices for us

From Paul Boyer, November 3, 2006
Subject: drugs
Dear Damon:

With the news of the merger or buyout, however it is classed, we expect STRS to immediately begin negotiations to get our drug prices lowered so that Caremark does not make all of the profit but passes some of it on to us. There is a revolution going on in the drug industry, as you well know, nd we will not stand paying these high co-pays that have been determined for next year.

Strict negotiations should have some exciting results for STRS. Don't back down with them, show them you mean business. There is no reason now why our prices should go up when the drug companies are offering lower prices directly to consumers.

$125 co-pay for Tier 3 is absolutely out of line as is the new copay for Tier 2.

Paul