Rx spending to grow 5.2% next year: CMS
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.