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Affordable Care Act Projected to Drive Up Prescription Drug Spending in Coming Years
Specialty drugs expected to account for 40% of total prescription spending by 2016, according to Catamaran Corporation.
While the overall benefits of the Affordable Care Act (ACA) are still hotly debated, there is little doubt the landmark legislation will lead to a boon for the pharmaceutical industry and the specialty drug market, according to the latest drug trend update from the Catamaran Corporation.
Catamaran, which provides pharmacy benefit management (PBM) services and technology, recently released a trend report updated for the first half of 2014 that calls for an upward trajectory for pharmacy spending due to the combined impact of health care reform and a robust drug pipeline. Technological advances and a growing demand for specialty therapies is expected to drive specialty medications to account for approximately 40% of all pharmacy spending by 2016.
“The impact of health care reform will become readily apparent across pharmacy purchasing and benefits,” the report states. “US spending on prescription drugs is estimated to increase in the retail space by $227 billion between 2010 and 2020.”
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Source: Specialty Pharmacy Times
