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US Retail Drug Spending Growth Slows Substantially In 2016

 
• By Cathy Kelly

Retail drug spending rose just 1.3% in 2016, following growth rates of 8.9% and 12.4% in 2015 and 2014, respectively. Moderating trend is reported just ahead of two congressional hearings on drug pricing.

Spending growth on retail prescriptions drugs in the US slowed to 1.3% in 2016 after recording much stronger growth rates of 8.9% and 12.4% in 2015 and 2014 respectively, according to actuaries at the Centers for Medicare and Medicaid Services. Retail drug spending reached $328.6bn last year.

The deceleration reflects fewer new drug approvals and lower hepatitis C and diabetes drug spending, CMS says in its latest...

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