Prescription Drug Spending in the U.S. Grew by 12% in 2014

CMS recently released a report on Medicare prescription drug spending in 2014. Here are some key findings from the data:

·         Spending on prescription drugs in the U.S. grew by 12% in 2014.

·         Medicare spent $121.5 billion on drugs under Part D of the Medicare Prescription Drug Program.

·         $21.5 billion was spent on drugs under Part B of the Medicare fee-for-service program.

·         Part D drugs with highest total spending were Abilify, Advair Diskus, Crestor, Nexium, and Sovaldi.

·         Aflibercept, ranibizumab, pegfilgrastim, imfliximab, and rituximab were the highest cost Part B drugs.

·         Vimovo had the highest unit price increase in 2014, increasing from $1.94 to $12.46.

Source: Centers for Medicare & Medicaid Services, December 2015