Canada says drug spending keeps rising due to increasingly expensive specialty meds

first_img What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Log In | Learn More Adobe Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED GET STARTED Tags drug pricingSTAT+ What is it? Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. Pharmalot center_img Canada says drug spending keeps rising due to increasingly expensive specialty meds By Ed Silverman March 26, 2021 Reprints STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Ed Silverman About the Author Reprints [email protected] As Canadians brace for new rules to address prescription drug spending, a government report found sales of patented medicines rose a “modest” 3.5% in 2019 and that prices were stable, but a growing number of increasingly expensive, specialized treatments are driving overall costs higher.Such medicines — such as biologics and cancer therapies — now account for approximately half of all sales of patented medicines in the country, a “dramatic” increase from 10% less than a decade ago, the report found. In 2009, only one of the top 10 selling patented medicines cost more than $1,000 a year. By 2019, seven of the top 10 had annual treatment costs exceeding $10,000 annually. @Pharmalot last_img

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