2020 Colorado Revised Statutes
Title 24 - Government - State
Article 31. Department of Law
Section 24-31-110. Department of law - investigate prescription insulin drug pricing report - repeal.

(1) The department of law shall investigate pricing of prescription insulin drugs, as defined in section 10-16-151 (1), made available to Colorado consumers to ensure adequate consumer protections in pricing of prescription insulin drugs and whether additional consumer protections are needed.

(2) (a) As part of the investigation by the department of law, the department of law shall gather, compile, and analyze information concerning the organization, business practices, pricing information, data, reports, or other information that the department of law finds necessary to fulfill the requirements of this section from companies engaged in the manufacture or sale of prescription insulin drugs. The department of law shall also consider any publicly available information related to drug pricing.

(b) If necessary to fulfill the reporting requirements of this section, the attorney general may issue a civil investigative demand requiring a state department; carrier, as defined in section 10-16-102 (8); pharmacy benefit management firm, as defined in section 10-16-102 (49); or manufacturer of prescription insulin drugs that are made available in Colorado, to furnish material, answers, data, or other relevant information.

  1. A person or business shall not be compelled to provide trade secrets, as defined insection 7-74-102 (4).

  2. By November 1, 2020, the department of law shall issue and make available to thepublic a report detailing its findings from the investigation conducted pursuant to this section. The department of law shall present the report to the governor, the commissioner of insurance, and the judiciary committees of the senate and house of representatives or their successor committees. The report must include:

  1. A summary of insulin pricing practices and variables that contribute to pricing ofhealth coverage plans, as defined in section 10-16-102 (34);

  2. Public policy recommendations to control and prevent overpricing of prescriptioninsulin drugs made available to Colorado consumers;

  3. Any recommendations for improvements to the "Colorado Consumer Protection Act", article 1 of title 6, to prevent deceptive sales practices related to the sale of prescription insulin drugs, including the pricing of those drugs; and

  4. Any other information the department of law finds necessary.

(5) This section is repealed, effective December 1, 2020.

Source: L. 2019: Entire section added, (HB 19-1216), ch. 248, p. 2419, § 3, effective August 2.

Cross references: For the legislative declaration in HB 19-1216, see section 1 of chapter 248, Session Laws of Colorado 2019.

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