Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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Specialty Brand Sales Excel Today, But What About Tomorrow?

Specialty Brand Sales Excel Today, But What About Tomorrow? | Pharmaguy's Insights Into Drug Industry News | Scoop.it

@QuintilesIMS teamed up with #PharmaForce to provide a framework for product launch assessment.

 

Download the entire report here.

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HHS: Only 30% of Rise in Prescription Drug Spending is Due to Price Increases

HHS: Only 30% of Rise in Prescription Drug Spending is Due to Price Increases | Pharmaguy's Insights Into Drug Industry News | Scoop.it

Key findings:

 

Expenditures on prescription drugs are rising and are projected to continue to rise faster than overall health spending thereby increasing this sector’s share of health care spending.

 

ASPE (HHS Office of the Assistant Secretary for Planning and Evaluation) estimates that prescription drug spending in the United States was about $457 billion in 2015, or 16.7 percent of overall personal health care services. 

 

Factors underlying the rise in prescription drug spending from 2010 to 2014 can be roughly allocated as follows: 10 percent of that rise was due to population growth; 30 percent to an increase in prescriptions per person; 30 percent to overall, economy-wide inflation; and 30 percent to either changes in the composition of drugs prescribed toward higher price products or price increases for drugs that together drove average price increases in excess of general inflation.

 

Expenditures on specialty drugs generally appear to be rising more rapidly than expenditures on other drugs, though estimates of specialty drug expenditures are highly sensitive to which drugs are considered “specialty” products.

 

Download the report here.

Pharma Guy's insight:

Unfortunately, ASPE's analysis does not include 2015, a year which saw the rise of several extremely costly Rx drugs including Harvoni and when Martin Shkreli, then-CEO of Turing Pharmaceuticals, raised the price of a specialty drug from $13.50 to $750 per pill.

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Prescription Spending - Especially for Specialty Drugs - Soars

Prescription Spending - Especially for Specialty Drugs - Soars | Pharmaguy's Insights Into Drug Industry News | Scoop.it

More than $374 billion was spent on prescription drugs in the United States in 2014, according to a report from the IMS Institute of Health. That was a 13.1% jump from 2013, and the highest growth rate in more than a decade, says ExpressScripts.


Specialty drugs have been the biggest revenue generators for pharma companies. According to ExpressScripts, spending on specialty drugs grew more than 30% in 2014.

And that high growth rate is expected to continue through 2017.


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Big #Pharma "Reinvents Innovation" by Investing in High-priced Specialty Drugs

Big #Pharma "Reinvents Innovation" by Investing in High-priced Specialty Drugs | Pharmaguy's Insights Into Drug Industry News | Scoop.it

Graham Lewis, IMS Health, VP Global Pharma Strategy, predicted that growth of the US pharmaceutical market will accelerate. He cited both the slow-down in developing markets and growing pharmaceutical company interest in specialty drugs as a major drivers.

Specialty drugs – those that costs more than $600 per month according to the Centers for Medicare & Medicaid Services – are hard to make and difficult to copy, which makes them attractive to manufacturers concerned about potential generic competition.

The challenge is finding patients and payers that can afford them, which is why many specialty drug developers focus on selling them in the US.

In fact, according to Lewis, 60% of the global growth in the specialty drug sales will be seen in the US over the next few years.

The drug industry’s interest in hard to make specialty drugs has reinvigorated R&D according to Lewis, who said: “The developed market, led by the US, has really reinvented innovation.

“In the past five years we’ve seen more innovation in pharma than in the previous 15,” he said, and these recent innovations are having “a gravitational effect.”

“If you’re in in innovation, this is the picture, and it’s all about the United States.”

Pharma Guy's insight:

More than $374 billion was spent on prescription drugs in the United States in 2014, according to a report from the IMS Institute of Health. That was a 13.1% jump from 2013, and the highest growth rate in more than a decade, says ExpressScripts. See http://sco.lt/8Eca6D I always said specialty and orphan drugs drugs were where the money is: http://bit.ly/orphanmoney 

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AARP Report: Trends in Retail Prices of Specialty Drugs

AARP Report: Trends in Retail Prices of Specialty Drugs | Pharmaguy's Insights Into Drug Industry News | Scoop.it

The latest Rx Price Watch report by Leigh Purvis and Dr. Stephen Schondelmeyer finds that retail prices for widely used generic prescription drugs declined, on average, between 2006 and 2013. In 2013, retail prices for 280 generic prescription drugs widely used by Medicare beneficiaries fell by an average of 4.0 percent. In contrast, the general inflation rate was 1.5 percent over the same period.

Specifically, the reports compare retail price changes with the rate of inflation. They also present differences in average price changes by manufacturer and by major therapeutic category. The sample of drugs studied was identified using 2006 data from a Medicare Part D plan provider, and changes in prices were measured using changes in the retail prices charged to consumers ages 50 and older enrolled in employer-sponsored health plans, as reported by the Thomson Reuters MarketScan® Research Databases.

Pharma Guy's insight:

Related articles: 

“Prescription Spending - Especially for Specialty Drugs – Soars”: http://sco.lt/8Eca6D and “Drug Spending Surged 13% in 2014: Specialty Drugs Accounted for 32% of the Overall Spend”; http://sco.lt/54S33x

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Drug Spending Surged 13% in 2014: Specialty Drugs Accounted for 32% of the Overall Spend

U.S. prescription drug spending shot up 13.1% last year, according to a new report from Express Scripts ($ESRX). And the vocal price critic says it knows just who's to blame.


The pharmacy benefits manager pinned the leap on a new group of ultrapricey hepatitis C meds, led by Gilead's ($GILD) Sovaldi and Harvoni. Those treatments helped specialty drugs--which account for only 1% of all prescriptions countrywide--put up 31.8% of 2014's overall drug spend. They also took hep C spending up by 742.6% from 2013

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The numbers apply to commercially insured patients, where spending per member per year amounted to $979.96 in 2014. Of that amount, $668.75 went to pay for traditional meds, while the rest--$311.11--paid for specialty drugs. More patients used specialty meds in 2014 compared with the previous year, the report says, but most of the increase came from higher prices. Price-wise, mainstream drugs went up 6.5%, the PBM says. Specialty drug prices leapt by 25.2%.

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