Like many other states, Colorado has been looking to lower drug prices for several years, issuing a report late in 2019 that explained why the state spent more than $1 billion annually on drug purchases. (Photo: Shutterstock)
DENVER — Tired of waiting for federal action to reduce prescription drug costs, Colorado is acting on its own — even if it must do so with one arm tied behind its back. Unable to set prices or change patent protections, the state is exploring creative legislative and administrative approaches to lower out-of-pocket costs on medications.
While none of the efforts alone would result in broad-based, deep cuts, state officials estimate the combined impact of the various measures could save Coloradans between 20% and 40% in out-of-pocket costs.
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