Weekly Policy Update: New Legislation Impacting Colorado’s Life Sciences Ecosystem
By: Colorado BioScience Association Date: 01/17/2020
The CBSA team is hard at work advocating on behalf of Colorado’s life sciences ecosystem. After the first full week of the legislative session, here’s an update on where we’re engaging and why.
CBSA Legislative Positions
CBSA opposes (unless amended) Senate Bill 10, Repeal Ban on Local Government Regulation of Plastics. This bill seeks to repeal a current state law that prohibits local governments from enacting plastic bans. CBSA is very concerned that medical products could be unintentionally included in local bans on single-use plastics, so we are advocating for an amendment that would exempt drugs and devices. We continue to educate legislators about our concerns and the potential for unintended consequences stemming from this bill.
CBSA supports Senate Bill 20, Rural Development Grant Program Creation. The bill creates a grant program in the Office of Economic Development & International Trade (OEDIT) to provide grants to economic development organizations and early stage rural businesses for prototype development, proof of concepts, or proof of business models. CBSA supports this legislation, as it aligns with our 2020 policy priority to increase capital and growth.
Senate Bill 107, Drug Production Costs Transparency Analysis Report was introduced by Senator Joann Ginal on January 16. The bill directs the Dept. of Health Care Policy and Financing (HCPF) to collect, analyze, and report prescription drug production costs data for the 20 highest-cost prescription drugs per course of therapy and the 20 highest-cost drugs by volume paid for by state purchasers. CBSA is currently reviewing the legislation and gathering member feedback through our Policy Committee, but we have not yet taken an official position.
CBSA expects the Colorado Prescription Drug Price Transparency Act to be introduced in the House any day now. The bill will be sponsored by Rep. Dominique Jackson and Rep. Dylan Roberts in the House and Sen. Joann Ginal in the Senate. Earlier drafts show the bill will require health insurers, prescription drug manufacturers, pharmacy benefits managers (PBMs), and nonprofit organizations to report certain information about the costs of prescription drugs to the Commissioner of Insurance, who will then analyze the information and submit a report regarding the effects of prescription drug costs on health insurance premiums.
Prior to the legislative session, CBSA attended a stakeholder meeting to discuss the first draft of the bill and submitted comments to the bill sponsors outlining our concerns and recommendations. We will continue to voice our concerns to the sponsors and work with them to ensure the bill includes adequate confidentiality protections for our members.
Throughout the session, CBSA will keep you updated on the bills impacting our community. If you have questions or would like to learn more about CBSA’s advocacy efforts, please contact Emily Roberts at Eroberts@cobioscience.com.
Stay up to date with what is impacting the life sciences community during the session.