CO HB1179

Prohibits pharmaceutical manufacturers and wholesalers from price gouging on essential off-patent or generic drugs, classified as a deceptive trade practice under the Colorado Consumer Protection Act

Defines price gouging as a price increase of 50% or more in wholesale acquisition cost within one year for drugs costing more than $80 for a 30-day supply or full course of treatment

Qualifies as "essential off-patent or generic drugs" those appearing on the World Health Organization's essential medicines list, designated by the U.S. Department of Health and Human Services for life-threatening or chronic conditions, or manufactured by three or fewer U.S. companies

Requires the state board of pharmacy and executive director of the department of health care policy and financing to notify the attorney general of suspected price gouging; authorizes the attorney general to issue subpoenas and file lawsuits seeking injunctions, restitution, or orders requiring manufacturers to provide drugs at pre-violation prices

Takes effect August 8, 2018, unless subject to referendum petition, in which case it requires voter approval at the November 2018 election