Colorado 2024 Regular Session

Colorado Senate Bill SB077

Introduced
1/22/24  
Introduced
1/22/24  
Failed
3/7/24  
Refer
1/22/24  

Caption

Prescription Drug Manufacturer Requirements

Impact

The implementation of SB 077 is expected to significantly influence the operations of prescription drug manufacturers within Colorado. By incorporating a structured registration and reporting system, the state aims to foster greater transparency and accountability among these manufacturers. Additionally, the requirement to maintain copayment assistance programs could lead to improved access to medications for patients, ultimately enhancing healthcare outcomes in the state. Should manufacturers fail to comply with these requirements, they could face regulatory actions for engaging in deceptive practices, thus aiming to deter any potential violations.

Summary

Senate Bill 077 introduces new requirements for prescription drug manufacturers operating in Colorado. Specifically, it mandates that these manufacturers register with the Division of Insurance and pay a related fee. The bill also requires manufacturers to establish copayment assistance programs for covered individuals, ensuring that these programs remain available for the entire duration of the individual's enrollment in their health benefit plan. This initiative seeks to reduce the financial burden on patients with high out-of-pocket expenses tied to prescription medications.

Contention

Reactions to SB 077 have been mixed among stakeholders. Advocates for consumer rights and healthcare accessibility laud the measure, arguing it will provide essential support to patients struggling with the costs of medications. However, some pharmaceutical companies express concerns that the added bureaucratic requirements could stifle innovation and increase the financial burden on manufacturers. Legislators will need to navigate these competing interests as they consider the bill's potential impact on healthcare affordability and the pharmaceutical industry in Colorado.

Companion Bills

No companion bills found.

Previously Filed As

CO HB1201

Prescription Drug Benefits Contract Term Requirements

CO SB00138

An Act Requiring Manufacturers Of Brand Name Prescription Drugs To Provide Samples Of Such Drugs To Manufacturers Of Generic Prescription Drugs.

CO SB00262

An Act Requiring Manufacturers Of Brand Name Prescription Drugs To Provide Samples Of Such Drugs To Manufacturers Of Generic Prescription Drugs.

CO SB00048

An Act Requiring Manufacturers Of Brand Name Prescription Drugs To Provide Samples Of Such Drugs To Manufacturers Of Generic Prescription Drugs.

CO SB1628

Prescription drug pricing; modifying requirements of pharmacy benefits management; prohibiting prescription drug manufacturers from discriminating against certain drug pricing program. Effective date.

CO SF328

Manufacturers requirement to report and maintain prescription drug prices

CO SB00188

An Act Requiring Brand Name Prescription Drug Manufacturers To Provide Samples Of Brand Name Drugs To Generic Prescription Drug Manufacturers.

CO SB1021

Prescription drugs.

CO HB2011

Relating to insurance coverage of prescription drugs.

CO HB2715

Relating to insurance coverage of prescription drugs.

Similar Bills

CA SB852

Health care: prescription drugs.

CA AB265

Prescription drugs: prohibition on price discount.

MI HB4409

Health: pharmaceuticals; reports on certain costs and other information associated with prescription drugs; require manufacturers of prescription drugs to file with the department. Creates new act.

CA SB838

Health care: prescription drugs.

MS SB2733

Pharmaceuticals; authorize the Division of Medicaid to establish a wholesale prescription drug importation program.

MS SB2715

Pharmaceuticals; authorize the Division of Medicaid to establish a wholesale prescription drug importation program.

IL HB1034

PRESCRIPTION DRUG PRICE

AZ HB2245

Generic prescription drugs; manufacturing