Prescription Medicine Spending Trends

FICTION: Drug costs continue to soar past the average rate of inflation and continue to be the largest portion of total health spending.

FACT: Prescription medicines have always comprised a small share of total health spending and in recent years the rate of growth of spending on prescription drugs has slowed markedly.

Facts About Diseases/Conditions Affecting Women

Overview

  • A baby girl born in the United States in 2006 could expect to live 80.2 years; that’s 5.1 years longer than a male baby, whose life expectancy would be 75.1 years.

Arthritis/Musculoskeletal Disorders

PhRMA Code on Interactions - Compliance Officers

Health Care Costs

When used appropriately, medicines can help generate savings by improving patient outcomes in many common diseases. A wide range of studies have shown that improved use of recommended medications is associated with reduced total health care costs.

AdherenceToMedsLowersTotalHealthSpending

Adherence

Medicines can lead to life-changing health outcomes for patients, but only if several actions occur including: appropriate and timely diagnosis and prescribing, prompt initiation of therapy, adherence to prescribed medicines (i.e., patients must take the medicines as prescribed at the right dose and right time), and periodic reviews and updates of the medication regimen.

Economic Impact

A major contributor to the U.S. economy, the biopharmaceutical sector generates high-quality jobs and powers economic output for the U.S. economy, serving as the “the foundation upon which one of the United States’ most dynamic innovation and business ecosystems is built,” according to the Battelle Technology Partnership Practice.

Medical Progress

New medicines save and improve lives every day. This is the foundation and underlying mission of America’s biopharmaceutical research sector.

In recent years, biopharmaceutical innovation has led to accelerated progress in the fight against many diseases. In 2012, the Food and Drug Administration approved 43 new medicines—the largest number in 15 years. Of those, 39 were approved by the Center for Drug Evaluation and Research and four by the Center for Biologics Evaluation and Research.

Value

Biopharmaceutical innovation delivers far-reaching benefits to patients, the U.S. health care system and our state and national economies. New medicines discovered and developed by America’s biopharmaceutical research companies are helping people lead longer, more productive lives, controlling health care costs and stimulating the economy through high-quality jobs and a healthier workforce.

PhRMA Statement on the President’s Fiscal Year 2013 Budget

Washington, D.C. (February 13, 2012) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John Castellani issued the following statement on the President’s budget proposal:

“Despite President Obama’s many pronouncements to support innovation, advance biomedical research, promote job creation and control health care costs for seniors, his 2013 budget proposal flies in the face of these important goals.

Key Facts About Prescription Medicine Costs

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