Current through 2022 Legislative Session and 11/8/2022 Election
Section 6-1-714 - Unfair drug pricing practice - deceptive trade practice - definitions(1) As used in this section, unless the context otherwise requires:(a) "Emergency" means a declaration made by the department of public health and environment pursuant to section 25-1.5-101(1)(aa), C.R.S., after the department has determined that there is a shortage of drugs critical to public safety.(b) "Unfair drug pricing" means charging a consumer an unconscionable amount for the sale of a drug. Unfair drug pricing occurs if: (I) The price charged by a wholesaler, distributor, or retailer exceeds by more than ten percent the average price for the drug charged by that wholesaler, distributor, or retailer during the thirty days immediately preceding the declaration of an emergency; and(II) The increase in the amount charged by a wholesaler, distributor, or retailer is not attributable to cost factors of the retailer, including, but not limited to, replacement costs, taxes, and transportation costs incurred by that wholesaler, distributor, or retailer.(2) A person engages in a deceptive trade practice when, in the course of such person's business, vocation, or occupation, the person engages in the practice of unfair drug pricing.L. 2005: Entire section added, p. 372, § 2, effective April 22.