As debates over rising medicine costs escalate, a new analysis forecasts that the growth of prices in the U.S. for prescription drugs will range from 0 to 3 percent over the next five years. At the same time, drug makers will collectively register sales growth anywhere from 3 percent to 6 percent.
By 2023, U.S. spending is expected to top $600 billion, up from nearly $500 billion this year, although this is before factoring in the rebates and discounts that drug makers pay to pharmacy benefit managers to win favorable insurance coverage on lists of medicines called formularies.
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