CO HB1324

Allows registered prescription drug outlets to compound and distribute drugs to licensed veterinarians for office stock use under new Section 12-42.5-118.5.

Permits veterinarians to dispense compounded drugs from office stock only for emergency patient treatment when the drug cannot be accessed timely through a registered pharmacy outlet, limited to a five-day supply.

Requires veterinarians to maintain a valid veterinarian-client-patient relationship before administering or dispensing compounded drugs and mandates pharmacy board approval for controlled substance compounding.

Applies the existing ten percent limitation on compounded drug distribution to veterinary compounded drugs, and requires nonresident pharmacy outlets to provide inspection reports from state regulators and board-approved third-party entities on an annual basis.

Appropriates $12,941 to the Department of Regulatory Agencies for fiscal year 2016-17 ($3,440 for operating expenses and $9,501 for legal services) and $9,501 to the Department of Law for legal services.