Colorado finalized the nation’s first prescription drug price cap Oct. 3, establishing an upper payment limit for Enbrel, an autoimmune medication, through the state’s prescription drug affordability review board, according to the board’s website.
The rulemaking process began May 23 and concluded Oct. 3, setting a $600 cap on a 50-milligram dose of Enbrel — about $31,200 annually. That amount is about 40% lower than the state’s current average plan payment of $53,049 per patient, according to written testimony submitted to the board.
Stakeholder comments supported using the federal CMS’ maximum fair price as a benchmark and estimated the policy could save Coloradans $32.8 million annually. The letter also urged the board to implement enforcement mechanisms to ensure insurers pass savings directly to consumers.
The review board said it will continue implementing reporting and oversight processes as it enforces the new price cap for Enbrel.
