• linkedin
  • Increase Font
  • Sharebar

    Top 5 Things to Know About Future Drug Spending

    The United States and other countries will continue to spend more on specialty medications, and less will be spent on brand-name drugs, according to a new forecast. In addition, spending on drugs in the U.S. will grow at a much slower rate, according to the Quintiles IMS Institute report, “Outlook for Global Medicines Through 2021: Balancing Cost and Value.”

    THE GROWTH RATE for U.S. spending on medicines will decline by half, from 12% in 2015 to between 6% and 7% in 2017. Plus, prescription drug spending is forecast to grow between 6% and 9% through 2021, the report found. “The decline reflects the end of hepatitis C treatment-driven growth and greater impact of patent expiries—including the introduction of biosimilars—following a period in which fewer brands faced new generic competition,” said QuintilesIMSInstitute in a press statement.  Plus, U.S. growth in 2014 and 2015 was driven by historically high price increases for both brand drugs and generics.

    U.S. BRAND DRUG PRICES will increase at a slower rate, due both to competition from generics and Congressional backlash over soaring brand prices. “Brand prices will increase at 8% to 11% — more slowly than the 12% to 15% in the past three years, and with fewer outlier major price increases, as these have become unsustainable in light of high-profile media and political attention.”

    (Cont'd)

    Christine Blank
    Contributing Editor Christine Blank is a freelance writer based in Florida.

    0 Comments

    You must be signed in to leave a comment. Registering is fast and free!

    All comments must follow the ModernMedicine Network community rules and terms of use, and will be moderated. ModernMedicine reserves the right to use the comments we receive, in whole or in part,in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

    • No comments available