DENVER –Despite 94% of Coloradans wanting to be informed about the factors causing the increases in their costs for prescription drugs, Republican members of the State, Veterans, and Military Affairs Committee killed HB18-1260, the “Prescription Drug Price Transparency Act.” After hearing testimony Monday evening, the committee did not vote, instead they “laid over” the bill to another day. However, they voted on the bill later last night after most supporters had left the Capitol.
This bill would have brought much needed transparency to drug price increases and ensure a new level of accountability for Coloradans and policymakers.
“With their late-night vote, Senate Republicans ignored the wishes of their constituents and rejected this bill that would start holding drug companies accountable for prices increases on medications that were developed through taxpayer funded research,” said Adam Fox of the Colorado Consumer Health Initiative. “This isn’t what Coloradans want or deserve. Coloradans just want to know when, how much, and most of all why the price of their medicines keep increasing. We know this bill faced a deluge of lobbying opposition from Pharma, and it’s clear that some of our lawmakers want to protect the industry’s absurdly high profits scraped off the backs of Coloradans.”
“Years ago, my medications were affordable but now I spend nearly $1,000 a month on my drugs and supplies, and that doesn’t include doctor visits,” said Sue Knipmeyer, a retiree from Grand Junction. “When prices go up, I wish I could know more about it. Drug makers should have to tell us the reasons for increases and should help people like me budget our expenses so we can afford to stay alive.”
One in 10 Coloradans doesn’t fill prescriptions because of costs. HB 1260 would have helped lawmakers and consumers understand why prescription drug costs are consistently rising, even as competition is increasing for some drugs.
Colorado Consumer Health Initiative represents 45+ Colorado health organizations with more than 500,000 health care consumer members, advocating for high-quality, affordable, and equitable health care for all Coloradans.