Biotech spending rises

May 7, 2007

According to a study by PBM Express Scripts, spending on biotech drugs increased 21% in 2006.

According to a study by PBM Express Scripts, spending on biotech drugs increased 21% in 2006. Of the top six biotech drug classes, five saw increases in spending. Cancer therapies saw the largest amount-nearly 40%-while biotech therapies for multiple sclerosis grew 19%. Spending on hepatitis C dropped 8%. The study attributed the lower spending on hepatitis C therapies to the availability to alternative generic treatments for the disease. The Express Scripts report also estimated that biotech spending may reach $99 billion by 2010 and would account for 26% of total drug spending. The analysis was based on prescription drug use for two samples of three million unique Express Scripts customers in 2005 and 2006.

 

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