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What you need to know about prescription drugs in America.
United States prescription drug spending declined in 2016, according to QuintilesIMS Institute research released in early May. While drug spending grew at a 4.8% pace in 2016 to $323 billion, that is less than half the growth rate of the previous two years, after adjusting for off-invoice discounts and rebates.
“After a year of heated discussion about the cost and affordability of drugs, the reality is that, after adjusting for population and economic growth, total spending on all medicines increased just 1.1% annually over the past decade,” said Murray Aitken, Senior Vice President and Executive Director of the QuintilesIMS Institute. “Understanding how the dynamics of today’s health-care landscape impact key stakeholders is more important than ever, as efforts to pass far-reaching health-care legislative reforms remain on the political agenda.”
Here are the other top findings from QuintileIMS’s Medicines Use and Spending in the U.S. – A Review of 2016 and Outlook to 2021 report: