These projections take anticipated discounts, rebates and other price concessions into account, according to Reuters.
IMS sees an annual growth rate of 4 percent to 7 percent through 2020.
Using wholesale prices, U.S. spending on prescription medicines could rise by 46 percent to $640 billion in 2020, according to the report.
IMS’ report found spending on prescription drugs in 2015 increased by 12.2 percent, reaching nearly $425 billion.
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