CO HB1260

Enacts the "Colorado Prescription Drug Price Transparency Act of 2018" requiring health insurers to submit annual reports to the commissioner of insurance starting in 2021 regarding the 25 most frequently prescribed drugs, 25 most costly drugs, and 25 drugs with highest spending increases dispensed in the preceding calendar year.

Requires prescription drug manufacturers to notify state purchasers, health insurers, and pharmacy benefit managers at least 90 days in advance of price increases exceeding 10% for drugs costing more than $40 per course of therapy, effective on or after July 1, 2020.

Mandates manufacturers notify purchasers within three days of introducing new specialty drugs to the commercial market and submit quarterly reports to the commissioner detailing financial and nonfinancial factors driving price increases, acquisition history, and drug revenue information.

Requires the commissioner to publish manufacturer-reported information on the division website within 30 days and to produce an annual report analyzing the effect of prescription drug costs on health insurance premiums, which must be submitted to specified legislative committees by December 1 of each year.

Establishes penalties of $1,000 per day for each day a manufacturer fails to comply with notification or reporting requirements, enforced by the state board of pharmacy.