Expiring Patents, Austerity Measures Lead to Predictions That Prescription Drug Sales Will Continue To SlowThe Associated Press/Washington Post: Prescription Drug Sales Will Continue To Slow Due To Expiring Patents And Austerity Measures
Growth in global prescription drug spending will slow to the lowest rate in decades as low-cost generic drugs continue replacing former blockbusters in the U.S. and Europe, where governments face new pressure to reduce health care spending, according to a new forecast. The projection from data firm IMS Health shows the global prescription drug market growing by 3 to 6 percent over the next four years to $1.2 trillion by 2017. That compares to a growth rate of 5.4 percent in the last four-year period (11/19). This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.