INTRODUCTION: multiple sclerosis (MS) is associated with long-term disability and significant social impact. First-line disease modifying treatments for MS (interferons and glatiramer acetate) have moderate efficacy and must be administered in daily or weekly injections. The introduction of fingolimod, a molecule with superior efficacy in reducing MS relapses compared to interferon-beta 1a justifies a budget impact analysis from a Colombian health system perspective. OBJETIVES: to develop a budget impact analysis, for years 2012 to 2016, of the introduction of fingolimod in the Colombian health system. MATERIALS AND METHODS: using the perspective of the Colombian health system, we designed a budget impact model to determine the effect that the introduction of fingolimod for patients with relapsing-remitting MS would have on the resources of the health system. Clinical data and prevalence were obtained from published literature, costs were collected from local sources. A Monte Carlo simulation was done as part of the sensitivity analysis. Exchange rate used was 2,565 pesos per euro (July 2011). RESULTS: total annual net costs (2012-2016) for the scenario without fingolimod were, in million euros, €8.17, €€8.69, €9.11, €9.62, and €10.13. In the fingolimod scenario net costs were: €8.19, €8.74, €9.16, €9.71 and €10.29. On the other hand, fingolimod was associated with 91 relapses averted in this five-year period. Monte Carlo simulation does not show relevant differences in costs between both scenarios. CONCLUSION: under these assumptions, the introduction of fingolimod in Colombian health care system does not imply a significant budget impact but represents an important reduction in the number MS relapses.