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Prescription Drug Prices Predicted to Skyrocket by 2016

Fred Bodimer
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Photo: JOEL SAGET/AFP/Getty Images

Photo: JOEL SAGET/AFP/Getty Images

fred-bodimer Fred Bodimer
Fred Bodimer joined KMOX in 1982 after graduating from the University...
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ST. LOUIS (KMOX) - A recent study from the St. Louis-based Express Scripts is analyzing America’s prescription drug spending.

David Whitrap with Express Scripts says he expects specialty drug spending to increase an additional 63 percent by 2016.

“Specialty drugs such as those three complex conditions such as rheumatoid arthritis, multiple sclerosis and cancer, while used by fewer than one percent of the population, now account for more than a quarter of the country’s overall prescription drug spend,” Whitrap says.

He says that one example in particular is Hepatitis C, which is a disease that affects nearly three million Americans. New therapies to treat Hepatitis C are being priced at $1,000 per pill.

Whitrap adds that it is unprecedented to have a pill be this expensive for such a large patient population. He also says the spending on cholesterol and blood pressure medications is expected to decline this year and next with more generics available.

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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