Rising brand drug prices are behind the increase in prescription drug spending and patient costs. In 2016, brand drugs accounted for only 11 percent of prescriptions dispensed, but more than 74 percent of total spending.
1 Conversely, generics made up 89 percent of prescriptions, but only 26 percent of spending. And while brand companies highlight that they are “limiting” year-over-year price increases to less than 10 percent, such price increases are nonetheless many times the rate of inflation and responsible for significant increases in the real cost of brand drugs. These brand drug prices increasingly create significantly larger burdens on patients and payers.
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