I just read a thought provoking blog on high priced new drugs. The author, a hospital pharmacist, is faced with the issue of how her institution can afford to treat patients with a new drug that promises profound increases in quality of life, but at astronomical prices.
(Note – I am not personally endorsing or failing to endorse the Campaign for Sustainable Rx Pricing that Dr. Duty mentions in her blog. I don’t know enough about the organization to have an opinion one way or the other.)
The fastest growing segment of the prescription drug market is specialty drugs. The 2014 Express Scripts Drug Trend Report states that specialty drugs account for 1% of prescriptions, but 32% of prescription drug spending. But what are specialty drugs? As it turns out, there is no one widely accepted definition. This may be because the definition of specialty drug has changed over time.