Spending soars on medication at New Mexico state agencies

SANTA FE, N.M. (AP) – Legislative analysists say spending on prescription medication by New Mexico state agencies is rising quickly as insurance coverage expands under Medicaid and demands for specialty drugs are met.
A report released Wednesday by the Legislative Finance Committee finds that state agencies spent $680 million on prescription drugs during the most recent budget year. That represents a 54 percent increase from two years ago.
Much of the spending increase can be attributed to