Senate Bill 24-203 Summary

• Colorado Prescription Drug Affordability Review Board must consider input from the Colorado Rare Disease Advisory Council when reviewing prescription drugs with approved orphan drug designations for rare diseases and no other medical indications

• Board must consider whether a drug has an orphan drug designation for one or more rare diseases and seek input from consumers and the rare disease advisory council in such cases

• Rare Disease Advisory Council gains authority to offer input to the Prescription Drug Affordability Review Board on drugs meeting the orphan drug designation criteria

• Act takes effect 12:01 a.m. on the day following the 90-day period after final adjournment of the general assembly, unless subject to referendum petition requiring voter approval in November 2024