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 and estimated $360.1 billion in 2017, up from $342.1 billion in 2016 and $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.  In 2017, drug price hikes slowed somewhat due to pressure from consumers and the Trump administration.  Many drug makers, including AbbieVie, Allergan, Novo Nordisk and Sanofi pledged to keep price increases at 10% or less.  After raising prices on almost 100 of its drugs by an…

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