SB 18-152

Senate Bill 18-152, which has been signed into law in Colorado, aims to prevent pharmaceutical companies from dramatically increasing the prices of essential off-patent or generic drugs. This law considers such price hikes as unfair and deceptive practices under consumer protection laws. It also requires certain state officials to report any suspected cases of price gouging to the attorney general, who can then take legal action against the companies involved. This bill primarily affects consumers and pharmaceutical manufacturers in Colorado by ensuring that drug prices remain stable and fair.

Official Summary

The bill: Prohibits a pharmaceutical manufacturer or wholesaler from price gouging on sales of essential off-patent or generic drugs; Makes the practice of price gouging a deceptive trade practice under the 'Colorado Consumer Protection Act'; and Requires the state board of pharmacy and the executive director of the department of health care policy and financing to report suspected price gouging to the attorney general. The attorney general is authorized to seek subpoenas and file lawsuits with the appropriate district courts.(Note: This summary applies to this bill as introduced.) , Read More