SB18-152: Prescription Drug Price Gouging Prohibition

• Prohibits pharmaceutical manufacturers and wholesalers from price gouging on essential off-patent or generic drugs, classifying such practice 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, full course of treatment, or single dose, unless the increase is directly attributable to additional production costs.

• Requires the state board of pharmacy and the executive director of the department of health care policy and financing to notify the attorney general of suspected price gouging involving essential off-patent or generic drugs.

• Authorizes the attorney general to issue subpoenas requiring manufacturers to provide cost itemization, price increase justifications, access expansion expenditures, and related information; allows the attorney general to file lawsuits seeking injunctions, restitution, or mandatory pricing for health benefit plan members and Medicaid recipients for up to one year.

• Defines "essential off-patent or generic drug" as FDA-approved drugs with expired exclusive marketing rights that appear on WHO's essential medicines list, are designated essential by U.S. HHS, or are actively manufactured by three or fewer U.S. manufacturers.