Three reports show slowdown in US medicines growth spending
Newly released US government actuary and pharmacy benefit manager data confirm previous projections of a significant decline in medicine spending growth.
After accounting for discounts and rebates, medicine spending growth in 2016 dipped into the low single digits, with growth rates between 2% and 5%, a posting on Pharmaceutical Research and Manufacturers of America (PhRMA) website notes.
- National Health Expenditure (NHE) projections released this week by the Centers for Medicare & Medicaid Services found between 2015 and 2016 medicine spending had the largest decline in spending growth of all health care categories. Medicine spending grew only 5% in 2016 compared to 9% in 2015. And medicine spending and total health care spending are projected to grow by approximately 6% annually over the next decade.
- Express Scripts’ annual Drug Trend Report found spending on medicines increased by just 3.8% in 2016, versus 5.2% in 2015. Express Scripts also found prices for brand-name medicines increased just 2.5% after accounting for discounts and rebates negotiated.
- Prime Therapeutics’ just announced spending on medicines increased by just 2.5% in 2016.
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