HB 18-1179

House Bill 18-1179, which has been signed into law in Colorado, aims to stop drug companies from dramatically increasing the prices of essential off-patent or generic drugs. This means that if a company tries to charge much more for these medicines than what is considered fair and reasonable, it can be treated as unfair business practice under Colorado’s consumer protection laws. The state's pharmacy board and health care policy department are required to report any suspected price hikes to the attorney general, who can then take legal action against such practices. This law helps protect consumers from sudden and excessive drug costs.

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