Weekly Policy Update: The Close of the Second Regular Session and Unveiling Federal Drug Price Policies

120 Days... Second Regular Session of the 71st General Assembly is Over

After 120 days, the Second Regular Session of the 71st session of the General Assembly ended on May 9, 2018. The successful passage of HB18-1135 - Extend Advanced Industry Export Acceleration Program sponsored by Reps. Tracy Kraft Tharp (D-Arvada) and Jim Wilson (R-Salida) and Sen. Jack Tate (R- Arapahoe) delivered a great victory for the bioscience industry. This bill extends the advanced industries export acceleration program to businesses seeking to expand their business in international markets. It is an important, proactive bill, that CBSA actively supported for our members and the entire bioscience industry. We greatly appreciate and thank the bill sponsors for their commitment, leadership, voice and support to the bioscience community.

Also, this year CBSA and industry partners were successful in defeating harmful transparency measures introduced at the legislator. These measures threatened bioscience innovation in Colorado and failed to provide the relief patients need next time they pick up a prescription. On behalf of the Colorado BioScience Association, our members, and the bioscience industry, we thank the Colorado General Assembly and those leaders who opposed the harmful transparency measures. While these measures were ultimately defeated, we remain committed to working throughout the summer with the Colorado General Assembly on solutions to help ensure patients have affordable access to therapies and needed medicines.

Our successes at the Capitol this legislative session would not have been possible without the impactful voices of our lobbyists at Colorado Legislative Services, industry partners, our members and the instrumental leadership of the legislature.

To see a list of all the policy that CBSA engaged in this legislative session click here.

HHS Secretary Alex Azar and President Trump unveiling drug pricing polices

CBSA continues to follow and engage the Colorado Delegation in discussions on potential drug pricing policies at the federal level. This afternoon we anticipate Present Trump will unveil his drug pricing policies. This delayed policy proposal is expected to build on President Trump’s 2019 budget proposal. According to HHS Secretary Alex Azar: “the administration is working on a plan to tackle high drug prices that would go “much further” than the proposals in President Trump’s budget.”

CBSA will report on the President’s speech next week. Be sure to check back!

To learn more about the upcoming speech and federal healthcare discussions:

STAT - Federal kickback law might be used to bring down drug prices, FDA commissioner suggests

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