DENVER, Colo. – As prescription drug costs continue to skyrocket, more than a dozen Colorado physicians have signed a letter calling on the Colorado General Assembly to pass SB 175, to establish a Prescription Drug Affordability Board. SB 175, which passed the Senate Appropriations Committee today, Friday, April 30th, could save Coloradans as much as 75 percent on the costs of the most unaffordable prescription drugs.
“The creation of a Prescription Drug Affordability Board will save the lives of, and give hope to, the countless patients living on a fixed income who fear picking up their medication because of what it might cost,” said Dr. Tracy Paeschke, a cardiologist in Colorado Springs and a member of the Colorado Chapter of the Committee to Protect Medicare. “For far too long, outrageous costs have kept life-saving medications out of reach for too many Coloradans. Ensuring that Coloradans have access to affordable drugs will strengthen our state and give them the peace of mind that comes with not having to choose between filling a prescription or putting food on their table.”
This legislation would create a board consisting of five non-partisan health care experts who could set upper pricing limits on the most exorbitantly priced prescription drugs.
“Because of the high costs of prescription drugs, in 2019, one in 10 Coloradans didn’t take their medications as prescribed,” states the signed letter from the Colorado Chapter of the Committee to Protect Medicare. “With the COVID-19 pandemic, the affordability situation has worsened: Nationally, nearly 40% of patients report difficulty affording their medications as we prescribed.”
The letter goes on to share: “Clearly, the status quo of allowing prescription drug costs to continue rising, unchecked, every year is unsustainable for our patients, who are also the constituents you represent. And drug corporations are not likely to rein in the high costs of their medications anytime soon unless we make them. Please pass SB 175 establishing the Prescription Drug Affordability Board and help protect the health and save the lives of our fellow Coloradans.”
“As physicians, we have seen the human cost of high prescription prices for years now, and the pandemic exacerbated the existing problem, as many of our patients lost their livelihoods and employer-sponsored health coverage. Enough is enough,” stated physicians from the Colorado Chapter of Doctors For America.
FOR IMMEDIATE RELEASE: Friday, April 30, 2021
NOTE: The physicians above are speaking in their capacity as members of the Committee to Protect Medicare. They should be identified only as indicated in this news release.