Pricing furor aside, drug spending growth slowed last year—but still hit $323B

Fierce Pharma ------- Despite what you may have heard about drug pricing and expenses getting out of hand, net spending growth actually fell in the U.S. last year. After discounts, pharmaceutical spending increased 4.8% in 2016, down from 8.9% growth recorded in 2015. The figures are courtesy of the QuintilesIMS Institute, which released its annual drug spending report on Thursday. All told, net U.S. drug expenses reached $323 billion last year, while invoice-level spending was $450 billion. Taken together, the figures represent an industrywide rebate and discounting level of 28%. Spending growth also slowed on an invoice basis in 2016, to 5.8%, from about 12.5% in 2015 and about 15% in 2014. Importantly, the numbers represent overall growth, and drug spending in the U.S. continued to expand in 2016. Last year’s net spending increase followed an 8.9% jump in 2015, and an even higher leap of about 10% for 2014. To learn more click on the picture below to read the article.