A new business and labor coalition called BALCONY is calling on the state to use its collective power to reduce drug prices for working families.

"New York state should use its clout as one of the world's largest buyers of pharmaceuticals to consolidate its purchasing and negotiate reduced drug prices for Medicaid, EPIC, and local government employees as well as for individuals, unions, and private employers who choose to participate," said NYSUT Executive Vice President Alan Lubin, who co-chairs BALCONY, the Business and Labor Coalition of New York.

EPIC is the state's Elderly Pharmaceutical Insurance Coverage program. "While inflation is up 18 percent since 2000, prescription drug costs have risen 86 percent — it's outrageous," said Lubin, speaking at an AARP news conference in Albany earlier this month.

"This is a win-win solution," said Bruce Ventimiglia, the BALCONY co-chairman who also chairs Saratoga Capital Management. "Small businesses will support programs that help their employees and create a more vibrant New York business environment. However, they need assurances that the costs of programs they support will not go through the roof."

NYSUT has been at the forefront of the issue of affordable drugs for several years. Lubin led a state AFL-CIO task force on the issue.