06.21.2021 / Reporters Note
Reporters Note – Colorado’s New PDAB is Exactly What Consumers Want and Deserve – Increased Access to Affordable Prescription Drugs
MEDIA AVAILABILITY – To speak with Frederick Isasi, Executive Director of Families USA, about prescription drug affordability boards or other prescription drug policy issues, please contact Lisa Holland, email@example.com, 202-695-5160 (cell).
Colorado’s New PDAB is Exactly What Consumers Want and Deserve – Increased Access to Affordable Prescription Drugs
Coloradans will soon have greater access to more affordable prescription drugs, thanks to Governor Jared Polis and the Colorado legislature. State policymakers have established a prescription drug affordability board (PDAB) that will increase access to affordable prescription drugs in the state and had strong support from Coloradans, with three-quarters of residents in favor.
Across the nation, nearly 9 out of 10 voters continue to ask Congress to act to lower the cost of prescription drugs; and state policymakers, once again, are blazing the trail to address the needs of consumers.
“Colorado state policymakers did what they were elected to do — put people’s health and financial well-being before politics and industry interests,” said Frederick Isasi, Executive Director of Families USA. “The governor’s signature of the new law is the last step in an all-in effort for families, tackling a tough policy issue in the face of fierce opposition from the pharmaceutical industry. Together Governor Polis and the State Legislature are meeting the needs of Coloradans, who, like so many Americans, are rationing unaffordable medicines to keep a roof over their heads and food on the table.”
SB21-175 focuses on increasing access to drugs that have been out of reach for so many adults, seniors, people with disabilities, and children. It empowers the PDAB to set caps on what will be paid in the state for specific, very costly drugs. This concept, similar to state public service commissions that determine what consumers pay and suppliers charge for vital public services — such as water, gas, and electricity — is long overdue.
Luckily, it is gaining momentum. Colorado is now the third state (joining Maine and Maryland) with a PDAB. The Colorado law builds on its predecessors by authorizing the board to establish upper payment limits that apply to all drug purchasers and payers in the state. This authority establishes a powerful policy in the state to level the playing field in the broken pharmaceutical market. This is a win for Colorado that should be replicated across the country.