For its study, Pew researchers compiled third-party data sets, government and industry reports, and survey findings to understand the prescription drug landscape. The study does not include drugs administered by a healthcare professional in hospitals or over-the-counter drugs bought without a prescription.
Five key study findings:
1. Net spending on drugs sold in pharmacies hit $341 billion in 2016, up from $250.7 billion in 2012.
2. Net revenue for pharmacies on retail prescription drugs more than doubled between 2012 and 2016, from $30.8 billion to $76.9 billion.
3. Pharmacy benefit managers passed on 91 percent of rebates to health plans in 2016, up from 78 percent in 2012.
4. After accounting for purchases and discounts, pharmacy benefit managers retained $22.4 billion; pharmacies retained $76.9 billion; manufacturers retained $204.6 billion; wholesalers retained $17.6 billion; and health plans, including Part D and Medicaid managed care, retained $19.6 billion.
5. During the study period, drug manufacturers significantly increased the amount of patient discounts, but net sales still increased. Drug manufacturers offered patients $49.9 billion in discounts in 2012, compared to $114.1 billion in 2016. But net sales rose from $179 billion to $204.6 billion.
Read the full report here.
More articles on pharmacy:
Bristol-Myers urges shareholders to support Celgene takeover
Novartis to pay $23M to settle claims it used charity payments as kickbacks
Martin Shkreli reportedly running his pharma company from prison
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
