Rx spending to grow 5.2% next year: CMS

Share this article:

The Affordable Care Act is expected to give drugmakers a big boost, a recent government forecast shows. The forecast, issued by the Centers for Medicare and Medicaid Services (CMS) and analyzed by Pharmalot, shows projected prescription drug spending is poised to grow 5.2% in 2014, vs. 0.6% growth in 2013 and vs. an 0.8% drop in spending in 2012.

Without the anticipated stimulus from Obamacare, prescription-drug spending would be 2.9% lower in 2014, the blog points out, suggesting "a clear benefit."

Of course, some drugmakers are likely to receive a bigger shot in the arm than others, but over time, CMS predicts the overall benefit will grow due to price hikes and wider utilization, translating into a 6.5% annual incrase in spending from from 2015 through 2022, due to a plateau in generic dispensing, a pick-up in income growth and earlier prescribing to an aged population.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Business Briefs

Email Newsletters

MM&M Future Leaders


Register now

Early bird $1,950 before 31 October 2014

*Group discounts available on request 

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.

Study says statins not enough for diabetic hearts

Researchers using an experimental test have discovered that the 50% of surveyed diabetics may also have undetected heart muscle damage.