Drug Spending Expected To Rise By $200 Bil. In 2022 Compared To Pre-ACA Levels
This article was originally published in RPM Report
Implementation of the Affordable Care Act in 2014 will help significantly increase growth for pharma. The increase won’t be as big as it might have been, thanks to the Supreme Court ruling allowing states to opt out of Medicaid expansion, but it should still be a significant acceleration.
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Big launches, clinical success in key therapeutic areas like cancer immunotherapy, and renewed interest in biotech from a broad investor base floated the biopharma world through 2013’s average year for FDA approvals, the rocky rollout of the Affordable Care Act, and increasing concern about drug prices.
Medicare’s drug spending grew more than 7% in 2012, according to the latest government statistics. If only the rest of the market worked like Part D.
Most health reform watchers have been tracking state votes on Medicaid expansion as a sort of scorecard on whether Obama Administration is winning or losing in health care reform. Push back from the states is making news now, but for biopharma sponsors, even a glass half full is a positive—and the long-term outlook is even brighter.