As biotech drug prices rise, U.S. hunts for solution
As biotech drug prices rise, U.S. hunts for solution

As biotech drug prices rise, U.S. hunts for solution
Wednesday, December 28, 2005

By Geeta Anand, The Wall Street Journal


The most innovative part of the drug industry is generating its most explosive prices.

Spending on specialty pharmaceuticals -- biotechnology drugs and other expensive medicines prescribed by medical specialists -- is growing twice as fast as traditional prescription drugs, according to Medco Health Solutions Inc., one of the largest pharmacy benefits managers. Insurers project it will grow by between 20 percent and 50 percent annually. It reached $42 billion in 2004 and will rise to almost $69 billion next year, when spending on specialty pharmaceuticals is projected to make up 25 percent of the nation's pharmacy bill, according to Health Strategies Group, a New Jersey consulting firm.


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