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QuintilesIMS Institute

Spike in new medicines to lift global drug spending

Spike in new medicines to lift global drug spending

DANBURY, Conn., and RESEARCH TRIANGLE PARK, N.C. — Though annual growth stands to moderate, global drug spending will climb to an estimated $1.5 trillion by 2021, up 33% from this year, according to the QuintilesIMS Institute. Worldwide spending on medicines is projected to grow at a 4% to 7% compound annual rate over the next

Savings from generic drugs edge up

Savings from generic drugs edge up

WASHINGTON — Annual health care savings from generic prescription drugs rose nearly 10% last year to $227 billion, according to the Generic Pharmaceutical Association (GPhA). GPhA’s 2016 Generic Drug Savings and Access in the United States report, released Wednesday, tallied the 10-year national savings for generics at $1.46 trillion, representing a gain of 328% from