New Blockbuster Drugs Come to Market/Drug Prices Soar/Generics Offer Some Relief, Business and Industry Trends Analysis

Drug spending in the U.S. reached $342.1 billion in 2016, up from $328.4 billion in 2015, according to the Centers for Medicare & Medicaid Services (CMS).  Median drug prices rose 8.9% in 2016, far above the U.S. inflation rate of 2%, according to Raymond James & Associates.  Consumers’ voracious need for drugs will continue to soar, thanks in part to the rapidly aging populations of such nations as the U.S., most of Europe and much of Asia, including Japan and China, and also due to the continuing introduction of new drugs.  In coming years, taming pharmaceutical costs will be one…

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