Saving People Money on Healthcare: Colorado Receives FDA Approval to Import Lower-Cost Drugs from Canada to Save Coloradans Money on Prescription Medications

DENVER ~ In a major step towards making prescription drugs more affordable for Coloradans, the state has received approval from the Food and Drug Administration (FDA) to import lower-cost medications from Canada. Governor Jared Polis, Lt. Governor Dianne Primavera, and the Colorado Department of Health Care Policy & Financing (HCPF) announced this exciting news today.

Governor Polis expressed his enthusiasm for the FDA's approval, stating that it is a crucial step in their fight to save Coloradans money on prescription drug costs. He also called on drug manufacturers to prioritize people over profits and stop inflating drug prices.

Lt. Governor Primavera, who is also the Director of the Office of Saving People Money on Health Care, highlighted the impact of high prescription prices on Coloradans. She stated that this approval is a major milestone in their efforts to make healthcare more affordable and ensure access to life-saving medications without breaking the bank.

Gretchen Hammer, Executive Director of HCPF, emphasized that this FDA approval has been a long time coming and urged drug manufacturers to engage with the state and remove any barriers that may prevent them from participating in the program.

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Colorado has been working towards its Drug Importation Program since 2019 when SB19-005 was passed by the state legislature. This legislation allowed HCPF to pursue this affordability strategy for the benefit of all Coloradans. The approved application indicates that the program has the potential to save $46 million over three years through lower insurance premiums and out-of-pocket expenses.

However, Colorado is still facing challenges in procuring a supply of eligible drugs from manufacturers. The state urges its federal partners to play a productive role in facilitating manufacturer cooperation with the program.

The Polis-Primavera administration and HCPF are committed to engaging stakeholders to ensure that Colorado consumers have access to lower-cost, high-quality medications. They encourage interested parties to visit HCPF's website for more information and to participate in upcoming stakeholder opportunities.

This FDA approval is a significant achievement for Colorado and a crucial step towards making prescription drugs more affordable for its residents. With continued efforts and collaboration, the state hopes to bring much-needed relief to Coloradans struggling with high drug costs.

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