Spending on drugs grew at only 0.6 percent last year, according to a recent report by IQVIA Institute for Human Data Science.
The report, titled “2017 Medicine Use and Spending in the U.S.,” also says drug spending could grow roughly 2-5 percent annually between 2018-22.
A report on PhRMA says the report “is further evidence we don’t have to choose between innovation and affordability.”
Also, according to the report, brand drug prices posted 1.9 percent growth, less than the rate of inflation, after adjusting for discounts and rebates.
To read more on PhRMA, click here.