Allen Thomas explains how and why price controls consistently fail and why broadening the powers of the Prescription Drug Affordability Board through HB23-1225 is a dangerous idea. Thomas wrote an essay, The Controlled Price is Not Right. In this essay, Thomas examines the aftermath of the passage of SB 21-175, which created the Prescription Drug Affordability Board. HB 23-1225 seeks to “extend and modify” the capabilities of PDAB, which would result in more harm done than good. For example, under this bill PDAB could put price caps on certain medications, such as insulin. Manufacturers could very well get around these price caps by ceasing to sell that medication in the state of Colorado. Granting boards such as the PDAB more power is never an effective answer to addressing complex issues such as high prescription medication prices. Listen to the full interview in the first hour.
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