HBA Denver updates you on some unique news to the Colorado Pharma Industry
Colorado has a lot going on in the pharmaceutical industry – are you up to date on all of the new rules and laws impacting Colorado?
Colorado to require disclosure of drug prices
Effective 2 August 2019 this law requires the disclosure of wholesale acquisition cost. It is intended to reduce the cost of prescription drugs to consumers. While the impact actually may be negligible to patients, it will almost certainly impact the way that pharma companies interact with patients, market their products and engage with the state of Colorado. Learn more here.
Colorado mandates electronic prescribing
This act goes into effect either 1 July 2021 or 1 July 2023 depending on the type of provider, mandates healthcare providers electronically prescribe controlled substances that are scheduled as II-IV. This is one of several legislative initiatives to combat the fight against the opioid epidemic and this act now aligns Colorado with several other states mandating electronic prescribing. Learn more about SB079 here.
Colorado wants to create a Canadian Prescription Drug Importation Program
On or before 1 September 2020, Colorado will submit a request to the U.S. secretary of health and human services for approval of the importation program which will bring prescription pharmaceutical products from Canada for resale to Colorado residents. Upon approval of the program, the department shall contract with 1 or more vendors to provide services under the program. Only eligible drugs will be part of the program – learn more here on the Colorado legislative site.