New Report Highlights Dramatic Change in U.S. Drug Spending Trends, Policy Implications
A major reduction in real prescription drug spending growth has created a “turning point” in healthcare with several policy implications, according to a study published this month by the journal Health Affairs as a Web Exclusive. The report, “Prescription Drug Spending Trends in the United States: Looking Beyond the Turning Point,”uses IMS Health RX information adjusted for inflation to document that U.S. prescription drug spending in 2007 fell to its lowest growth rate in more than 30 years. These dynamics reflect the increased use of generic drugs following patent expiration, a marked decline in the number of new molecular entities approved by the FDA, and a reduction in the number of blockbuster drugs.
The growth, size and composition of prescription drug spending is likely to change dramatically in future years, raising significant healthcare policy implications…
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