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

DENVER - Today, Governor Polis, Lt. Governor Primavera, and the Colorado Department of Health Care Policy & Financing (HCPF) announced that Colorado has received approval from the Food and Drug Administration (FDA) to import lower-cost prescription drugs from Canada to save Coloradans money on healthcare. With this approval, FDA has indicated that HCPF has outlined a plan to import drugs that will reduce costs while ensuring public health and safety. This approval is a tremendous step toward making prescription drugs affordable for all Coloradans.

"I'm excited that the FDA has finally approved our application to import lower-cost prescription drugs from Canada, a major step in our fight to save Coloradans money on prescription drug costs," said Colorado Governor Jared Polis. "Now more than ever, we need to call on drug manufacturers to step up to the plate and stop ripping off consumers with inflated drug costs by putting profits over people. Enough is enough. There's important work ahead to get this done and save people money, but this approval is the vital first step."

"Too many Coloradans are forced to choose between life-saving medications and basic necessities due to sky-rocketing prescription prices," said Colorado Lt. Governor Dianne Primavera and Director of the Office of Saving People Money on Health Care. "This approval is a major milestone in our fight to make healthcare more affordable, and we remain committed to ensuring that people across the state have access to the medications they need without breaking the bank."

"This FDA approval for Colorado's drug importation program has been a long time coming. Now it is time for drug manufacturers to engage with the State, remove the prohibitions they have put on Canadian manufacturers, and be part of the prescription drug affordability solution," said HCPF Executive Director, Gretchen Hammer.

Colorado has been working diligently on its Drug Importation Program since 2019, when the Colorado Legislature passed SB19-005 permitted HCPF to pursue this affordability strategy to the benefit of all Coloradans. The approved application indicates that the Program has the potential to save Coloradans $46 million over three years through lower insurance premiums and out-of-pocket expenses, based on the drugs provided through the state's application; however, the state is able to work with all willing manufacturers on more than just these drugs to bring savings to Coloradans.

The Polis-Primavera administration and HCPF look forward to engaging stakeholders to ensure Colorado consumers have access to lower-cost, high-quality medications. Colorado still faces the critical issue of procuring a supply of eligible drugs from manufacturers and urges our federal partners to take a productive role in facilitating manufacturer cooperation with the Program. Visit HCPF's website for more information and to learn more about upcoming stakeholder opportunities.

###