One of the most important stories in the biopharma industry has been the rise of GLP-1 agonists for treating obesity. Novo Nordisk A/S’s GLP-1 agonist Ozempic/Wegovy (semaglutide) and Eli Lilly and Company’s GIP/GLP-1 agonist Mounjaro/Zepbound (tirzepatide) are taking a dominant role in the drug market overall and will likely continue to be a major driver of sales over the next several years, according to IQVIA’s latest medication usage report.
The report, released on 7 May, found that the US prescription drug market at net prices grew overall to $435bn in 2023 over 2022, a 9.9% increase when excluding the decline in COVID-19 vaccines and drugs
Key Takeaways
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The US drug market by net prices grew to $435bn in 2023, an almost 10% increase over 2022 when excluding COVID-19 drugs and vaccines, with a significant contribution from GLP-1 and GLP-1/GIP drugs.
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Out-of-pocket costs remained a persistent problem, rising to $91bn, with 98 million new prescriptions abandoned
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