The bill creates the 'Colorado Wholesale Importation of Prescription Drugs Act', under which the department of health care policy and financing (department) must design a program to import prescription pharmaceuticals from Canada for sale to Colorado consumers. The program design must ensure both drug safety and cost savings for Colorado consumers. The department must submit the program design to the secretary of the United States department of health and human services and request the secretary's approval of the program as meeting the requirements of federal law to import Canadian pharmaceutical products.
If the secretary approves the program, the department must implement the program. The department must adopt a funding mechanism to cover the program's administrative costs, and the department must annually report on the program to the general assembly.
(Note: This summary applies to this bill as introduced.)