MAKING PRESCRIPTION DRUGS AFFORDABLE—Although the governor vetoed a buying pool that would have made prescription drugs more affordable, CoPIRG moved the bill further along in the Legislature this spring than ever before.

Colo. Closer To Cutting Drug Costs

On May 6, the Colorado Legislature passed CoPIRG-backed SB-102, which would allow Colorado to join a multi-state prescription drug purchasing pool. However, Gov. Owens vetoed the bill on June 1.

The bill would have allowed Colorado to join an eight to 11 state coalition that negotiates cheaper drug prices directly with pharmaceutical companies. People who don’t have health insurance or prescription drug coverage and who earn under a certain income would have been able to fill out an application and register for the program—and purchase cheaper prescription drugs.

“Although Gov. Owens’ veto of the bill presents a significant setback, it’s still encouraging that a prescription drug purchasing pool made it through both houses of the Legislature,” said State Director Rex Wilmouth. “Now it’s up to us to redouble our efforts to pass the bill next year.”

Drugs Costly For Consumers
In the last five years, prescription drug costs have increased at more than twice the rate of inflation— meanwhile the industry spends 33 percent of its profits on advertising and marketing, and only 5 percent on research and development.

“This is bad news for uninsured Coloradans, who are often forced to make choices between paying for their prescriptions or other basic necessities,” said Wilmouth. “Joining the pool will give our state a chance to negotiate a better deal.”

According to Wilmouth, now that the bill has already passed, CoPIRG will have an easier time of winning when the Legislature reconvenes in January. “This time, we have the momentum, and we have the allies we need, and this gives us a much greater advantage than ever before,” said Wilmouth.