Tell the Colorado Legislature to Help Put a Stop to Runaway Pharmaceutical Prices
Drug prices are spiraling out of reach for Americans, and we deserve to know why.
Last year, drug prices in the US shot up by 14% despite health care inflation falling to a historic low. In the well-publicized case of profiteer Martin Shkreli, we found out that simple greed caused him to jack up a life-saving drug's cost by over 5000 percent. Most of the time, however, we are never given the reasons for a drug's astronomical cost, as there is no law that entitles us to an explanation. That could now change with a bill just introduced in Colorado’s state legislature.
For the first time ever, drug manufacturers that produce drugs costing over $50,000 per year or course of treatment would have to disclose how much it costs to research, produce and market that drug – if the legislature passes House Bill 16-1102. The bill, which has both Democratic and Republican sponsors, would require that this information be reported to the Colorado Commission on Affordable Health Care. That commission will then submit a report to the legislature on how to reduce drug costs.
This is an important first step toward making prescription drugs more affordable. People’s lives depend on access to these drugs, and ultimately we all pay a share in the form of our health insurance premiums and taxes.
We deserve an explanation. If you agree, then please sign this petition to let your state legislators know that you want them to pass HB 16-1102.
Last year, drug prices in the US shot up by 14% despite health care inflation falling to a historic low. In the well-publicized case of profiteer Martin Shkreli, we found out that simple greed caused him to jack up a life-saving drug's cost by over 5000 percent. Most of the time, however, we are never given the reasons for a drug's astronomical cost, as there is no law that entitles us to an explanation. That could now change with a bill just introduced in Colorado’s state legislature.
For the first time ever, drug manufacturers that produce drugs costing over $50,000 per year or course of treatment would have to disclose how much it costs to research, produce and market that drug – if the legislature passes House Bill 16-1102. The bill, which has both Democratic and Republican sponsors, would require that this information be reported to the Colorado Commission on Affordable Health Care. That commission will then submit a report to the legislature on how to reduce drug costs.
This is an important first step toward making prescription drugs more affordable. People’s lives depend on access to these drugs, and ultimately we all pay a share in the form of our health insurance premiums and taxes.
We deserve an explanation. If you agree, then please sign this petition to let your state legislators know that you want them to pass HB 16-1102.
Dear [Representative],
I support HB 16-1102, which will require drug manufacturers producing drugs that cost over $50,000 per year or per course of treatment to submit a report to the Colorado Commission on Affordable Health Care detailing exactly how much it costs to research, produce, and market the drug. This transparency is a common sense step toward making prescription drugs more affordable. People's lives depend upon these high-priced drugs and ultimately we all share in their cost via health insurance premiums and taxes that we’re legally required to pay.
Last year, drug prices in the US shot up by 14%, despite overall health care inflation falling to a historic low. And numbers show that this is not entirely because of spending on research for new drugs, since drug companies have an average profit margin that is more than double the average for S&P 500 companies. HB 16-1102 will empower the Colorado Commission on Affordable Health Care to investigate exactly what is contributing to increasing drug prices and to make recommendations to the legislature on what Colorado can do to address this.
No Coloradan should be kept away from life-saving medicine because of cost, but that is what is happening. Twenty-two percent of uninsured Coloradans skipped a prescription entirely due to costs, and ten percent of uninsured Coloradans reported spending more than half of their income on prescription drugs and other medical costs. HB 16-1102 will begin to address this affordability crisis.
[Your comment will go here]
This is a reasonable, bipartisan bill that addresses an urgent need for Colorado’s health care system, and I urge you to support HB 16-1102.
Sincerely,
[Your name]
Sign PetitionSign PetitionI support HB 16-1102, which will require drug manufacturers producing drugs that cost over $50,000 per year or per course of treatment to submit a report to the Colorado Commission on Affordable Health Care detailing exactly how much it costs to research, produce, and market the drug. This transparency is a common sense step toward making prescription drugs more affordable. People's lives depend upon these high-priced drugs and ultimately we all share in their cost via health insurance premiums and taxes that we’re legally required to pay.
Last year, drug prices in the US shot up by 14%, despite overall health care inflation falling to a historic low. And numbers show that this is not entirely because of spending on research for new drugs, since drug companies have an average profit margin that is more than double the average for S&P 500 companies. HB 16-1102 will empower the Colorado Commission on Affordable Health Care to investigate exactly what is contributing to increasing drug prices and to make recommendations to the legislature on what Colorado can do to address this.
No Coloradan should be kept away from life-saving medicine because of cost, but that is what is happening. Twenty-two percent of uninsured Coloradans skipped a prescription entirely due to costs, and ten percent of uninsured Coloradans reported spending more than half of their income on prescription drugs and other medical costs. HB 16-1102 will begin to address this affordability crisis.
[Your comment will go here]
This is a reasonable, bipartisan bill that addresses an urgent need for Colorado’s health care system, and I urge you to support HB 16-1102.
Sincerely,
[Your name]
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