In 2024, the cost and utilization of specialty dermatology drugs significantly drove a 7% increase in pharmaceutical costs, according to a June 10 report from Navitus Health Solutions, a pharmacy benefits manager.
Although specialty medications accounted for less than 2% of utilization, they drove 52% of net pharmaceutical spend in 2024, the report found.
Per month, Navitus members experienced an average 7% increase in drug costs. Following specialty dermatology, utilization and spend grew among specialty oncology and nonspecialty diabetes medications — particularly GLP-1s such as Ozempic.
Here are five key findings from the report:
1. About 3 in 4 newly approved products are specialty drugs, and older specialty medications are receiving new indications, which is driving increased utilization.
2. Dupixent (dupilumab) accounted for 96% of specialty dermatology utilization in 2024. Its net cost per member per month was $4.37, while all other products amounted to $0.21. The medication is approved to treat eczema, asthma, chronic obstructive pulmonary disease, chronic rhinosinusitis with nasal polyps, eosinophilic esophagitis, prurigo nodularis and chronic spontaneous urticaria.
3. Stelara (ustekinumab) biosimilars are expected to significantly decrease claims for the drug by 85% in 2025.
4. Top oncology medications, by utilizations and unit cost, were Verzenio, Kisqali, Jakafi, Tagrisso and Imbruvica.
5. If GLP-1 medications were excluded from the net cost trend for nonspecialty medications, the increase would have been 3.5% instead of 6.3%.
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
