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 The leading web portal for pharmacy resources, news, education and careers October 22, 2017
Pharmacy Choice - Pharmaceutical News - Blue Cross Blue Shield Association Study Shows Rising Costs for Patent-Protected Drugs Drives Growth of Pharmaceutical Spending in the U.S. - October 22, 2017

Pharmacy News Article

 5/19/17 - Blue Cross Blue Shield Association Study Shows Rising Costs for Patent-Protected Drugs Drives Growth of Pharmaceutical Spending in the U.S.

By a News Reporter-Staff News Editor at Insurance Weekly News Rising costs for patent-protected drugs are driving double-digit annual growth in pharmaceutical spending in the U.S., according to a new study by the Blue Cross Blue Shield Association (BCBSA).

The report, HYPERLINK "https://www.bcbs.com/about-us/capabilities-initiatives/health-america/health-of-america-report/rising-costs-patented-drugs-drives-growth-pharmaceutical-spending?utm-source=prnw&utm-medium=&utm-content=&utm-campaign=hoa-drugspending" \n"Rising Costs for Patented Drugs Drives Growth of Pharmaceutical Spending in the U.S.," analyzes seven years of drug utilization, price changes and overall spending. It shows that prescription drug spending has increased 10 percent annually for Blue Cross and Blue Shield (BCBS) members since 2010, an overall rise of 73 percent.*

"This upward trend is due to a small fraction of emerging, patented drugs with rapid uptake and large year-over-year price increases that are more than offsetting the continued growth in utilization of lower-cost generic drugs," said Maureen Sullivan, chief strategy and innovation officer for BCBSA. "Current trends suggest that this rapid rise in drug trend costs is likely to continue in future years."

Keywords for this news article include: Insurance, Blue Cross and Blue Shield Association.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC



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