not used title

not used title

Last year, a record number of new treatments and cures that are transforming care for patients fighting debilitating diseases like cancer, hepatitis C, high cholesterol and more were approved by the U.S. Food and Drug Administration. In the midst of all this incredible progress, spending on medicines grew just 0.6 percent in 2017, according to the new IQVIA Institute for Human Data Science “2017 Medicine Use and Spending in the U.S.” report.

This report is further evidence we don’t have to choose between innovation and affordability.  

Here are four things you should know about the “2017 Medicine Use and Spending in the U.S.” report:

• Spending on retail and physician-administered medicines grew just 0.6 percent in 2017.
• Prices for brand-name medicines increased just 1.9 percent after accounting for negotiated discounts and rebates, below the rate of inflation.
• Medicine spending is projected to grow just two to five percent annually between 2018 to 2022.
• Entry of generics and biosimilars are expected to decrease brand sales by $105 billion between 2018 and 2022.

Learn more at LetsTalkAboutCost.org.

Holly Campbell

Holly Campbell is former deputy vice president of public affairs at PhRMA focusing on the cost and value of medicines.

Holly Campbell

Author Twitter

Author LinkedIn

New study: HPV vaccination helps prevent cervical cancer deaths

July 21, 2026

Mass compounding puts patients at risk

July 16, 2026

America's cancer research progress is real and worth protecting

May 28, 2026

Ahead of ASCO: Cancer innovation is promising, but policy choices matter

May 26, 2026

16 years later: How BPCIA continues to expand competition and lower costs

March 23, 2026

Advancing patient care: A look at new medicines approved in 2025

January 30, 2026

CAREs 2025: Supporting community-based solutions that improve access to medicines

January 22, 2026

New analysis finds 340B hospitals push patients toward costly care to boost profits

January 21, 2026

Price setting policies put cancer gains in jeopardy

January 16, 2026

Knockoffs of FDA-approved drugs put patients at risk

December 1, 2025

PDUFA: Essential to America’s edge in drug development and patient access

October 31, 2025

Improved treatments continue to lead to declining cancer mortality rates in the U.S.

February 25, 2025

Guest Perspective: Prioritize Innovative Care

February 11, 2025

Major drug compounder is spending millions on misleading Super Bowl ad

February 5, 2025

Preventing and fighting disease: A look at the biopharmaceutical progress made for patients in 2024

February 3, 2025

Post-approval R&D is critical for fighting cancer. The IRA makes it more difficult.

November 13, 2024

The importance of partnership: A conversation with Takeda

October 10, 2024

Biosimilars continue to drive market competition and increase savings for seniors

August 6, 2024

More oversight needed of unapproved medicines that threaten patients’ health

August 1, 2024

The future of oncology R&D lies in policymakers’ hands

July 8, 2024

Showcasing the promise of biopharma at ASCO 2024

June 28, 2024

The use of real-world data in drug development

May 13, 2024

Critics repeat same, misleading narrative on potential “costs” of new medicines

May 7, 2024

Championing cancer equity: Our drive for healthier AANHPI communities

May 1, 2024

New analysis: Accelerated approval pathway is changing lives in underserved communities

April 30, 2024

Insurance data: PBM reform has no material impact on premiums

April 24, 2024

What recent rhetoric on the cost of diabetes and anti-obesity medicines gets wrong

April 9, 2024

3 Takeaways from POLITICO’s Health Care Summit

April 3, 2024

The impact of innovative medicines: A caregiver's perspective

March 26, 2024

PhRMA awards $250,000 to community-based projects to improve equitable cancer outcomes

February 9, 2024

Setting the Record Straight: Comparing U.S. drug prices to those in foreign countries hurts patients

February 7, 2024

Three things to know about antibody drug conjugates

February 2, 2024

Novel treatments and vaccines approved for U.S. patients in 2023 reach five-year high

January 23, 2024

When it comes to the future of innovation, the ball is in policymakers’ court

January 22, 2024

Florida’s importation plan puts patients in danger

January 5, 2024

The Biopharmaceutical Industry Still Needs Clarity from the FDA on Orange Book Listings

December 19, 2023

Biosimilars drive savings, but the IRA undermines their development

December 14, 2023

The IRA’s pill penalty threatens the future of oncology R&D

November 16, 2023

New Report: 1,600 cancer treatments and vaccines in clinical development

November 9, 2023

R&D leaders to Biden Administration: Your policies are undermining the Cancer Moonshot

October 18, 2023

Watch: New video series spotlights advances in biopharmaceutical science

August 24, 2023

AARP’s latest misleading report

August 11, 2023

Decentralized clinical trials and the future of drug development

August 9, 2023

New report: Hospitals mark up medicine prices 500%

August 2, 2023

read more

August 2, 2023

Key considerations as Congress works towards PAHPA reauthorization

July 12, 2023

Between hope and despair: Improving cancer outcomes

July 11, 2023

New report shows high-impact R&D happens after cancer medicines are first approved

July 10, 2023

New report shows how the Inflation Reduction Act stifles innovation for small molecule medicines

June 22, 2023

How FDA’s modernization strategy could improve drug development

June 20, 2023

ASCO 2023: Protecting our progress in the fight against cancer

June 15, 2023

Highlights from ASCO 2023

June 8, 2023

Setting the record straight on accelerated approval

May 22, 2023

Insulin: Key Facts on Access & Affordability

May 10, 2023

4 key facts on medicine prices and spending

May 9, 2023

Three facts about health care spending

April 25, 2023

FDA should remain the authority on the safety and effectiveness of medicines

April 12, 2023

IRA Impacts: Cancer treatment research and development

March 23, 2023

State policymakers can protect American innovation and help Americans live longer, healthier lives

February 9, 2023

ICYMI: Cancer death rate continues to decline due to treatment advances

January 25, 2023

Novel medicines approved in 2022 offer increased treatment options for patients

January 23, 2023

ICYMI: PhRMA kicks off the year at the 2023 J.P. Morgan Health Care Conference

January 19, 2023

Study finds hepatitis C cure saved Medicaid $15 billion

January 5, 2023

What you should know about real-world evidence and drug development

December 19, 2022

Three things to know about the accelerated approval pathway

December 12, 2022

Stories from the lab: Researchers discuss innovative treatments for cancers of the blood

December 1, 2022

The 340B program is interfering with the U.S. biosimilars market and impacting patient costs

November 21, 2022

New data show how insurers and middlemen shift Rx costs onto patients

November 16, 2022

ICYMI: PhRMA COO Lori Reilly Esq. speaks with Jacob Van Naarden about the future of cancer research

November 8, 2022

Protecting treatment advances for breast cancer

October 31, 2022

Biosimilar uptake is increasing and so are health savings

October 17, 2022

Busting 3 Myths About Copay Coupons

October 5, 2022

PDUFA and BsUFA reauthorizations are wins for patients

October 5, 2022

Timely reauthorization of PDUFA and BsUFA is vital to the FDA’s review of medicines

September 12, 2022

Making coupons count for patients at the pharmacy counter

August 25, 2022

New research shows competition driven by biosimilars helps control costs in Part B

July 19, 2022

Word of the Month: Biomarkers and surrogate endpoints

July 11, 2022

By the Numbers: Patients lose when the government sets prices

July 8, 2022

Prescription drug prices are not fueling inflation

July 6, 2022

Key takeaways from ASCO's annual meeting

June 10, 2022

PhRMA warns of the growing influence of middlemen over patient access and out-of-pocket costs for patients

May 31, 2022

Report finds PBMs are increasingly restricting patient access to medicines

May 25, 2022

ICYMI: First pediatric patient to receive CAR-T cell therapy celebrates 10 years of being cancer-free

May 25, 2022

Report: More than 500 medicines in development to treat disorders of the blood

May 18, 2022

ICYMI: PhRMA CEO Stephen J. Ubl spotlights lessons learned during COVID-19

May 13, 2022

Ensuring timely reauthorization of PDUFA and BsUFA

May 11, 2022

Annual projections from NHE compared to actual health care spending

May 5, 2022

What’s really happening when it comes to prescription drug costs

April 27, 2022

Analysis: States can help patients save nearly $1,000 annually on their medicines

April 21, 2022

New analysis confirms hospitals markup prices for oncology therapies

April 21, 2022

How standardized plans can improve patients’ access to medicines

April 18, 2022

Correcting the record: Putting medicine costs and spending in context

March 24, 2022

The accelerated approval pathway: Helping patients with serious or life-threatening diseases

March 17, 2022

Sharing rebates can save Americans with diabetes 500 each year and improve adherence

March 16, 2022

Guest Post: If we truly want to cure complex diseases, politicians should reject price setting

March 14, 2022

Veterans Affairs 101: Three charts show how the VA system differs from Medicare

March 11, 2022

If drug prices are growing below the rate of inflation, why are patients still feeling the sting at the pharmacy?

March 8, 2022

4 things to know about biopharmaceutical efforts to fight cancer

February 24, 2022

Government price setting leaves behind families counting on new medicines

February 23, 2022

Part B 101: Three charts show the program helps control costs for health care system and enrollees

February 18, 2022

340B 101: Three charts show the program maximizes hospitals’ bottom line with little consideration for patients

February 8, 2022

The importance of timely PDUFA and BsUFA reauthorization

February 3, 2022

Research and development continues long after a medicine is initially approved

February 1, 2022

ICYMI: New approvals by the FDA in 2021 offer greater treatment options for patients

January 26, 2022

New poll of all 50 states and 435 Congressional Districts shows perils of so-called Medicare “negotiation”

January 25, 2022

CBO reaffirms our innovation ecosystem leads to improved lives, long-term savings

January 21, 2022

New data show continued decline in death rates for cancer patients related to treatment advances

January 20, 2022

New study finds more than half of brand medicine spending goes to the supply chain and others

January 7, 2022

New NHE data show the true picture of health care spending

December 22, 2021

3 things to know about the importance of post-approval research and development

December 6, 2021

Guest post: Congress should not put future innovation at risk

November 29, 2021

What is missing in the current drug pricing plan

November 23, 2021

ICYMI: PhRMA CEO speaks at STAT Summit about government price setting

November 19, 2021

In the current health care debate, Congress has lost sight of what matters to U.S. voters

November 15, 2021

CMS finds medication adherence saved Medicare up to 46.6B in avoided health care costs between 2013 and 2018

October 19, 2021

ICYMI: New study confirms policies like H.R. 3 could significantly reduce drug development

October 18, 2021

New poll shows Americans reject Medicare negotiation once they learn more about the policy

October 15, 2021

To drive up profits, hospitals continue unnecessary medicine mark-ups, burdening patients, employers and health care system

October 14, 2021

What is Kaiser Family Foundation up to?

October 12, 2021

Biosimilar User Fee Act (III) Performance Goals Letter will help increase options for patients and promote competition

September 28, 2021

Meeting Tomorrow: Looking ahead to PDUFA VII

September 27, 2021

The impact of monoclonal antibodies and COVID-19 recovery

September 2, 2021

Recognizing National Immunization Awareness Month

August 31, 2021

PDUFA VII is critical for future biopharmaceutical innovation and for patients

August 23, 2021

Recognizing Hepatitis R&D on World Hepatitis Day

July 28, 2021

New reports shed light on key facts about medicines and affordability

June 8, 2021

How strengthening the biosimilar marketplace benefits patients

May 18, 2021

The FDA Office of Minority Health and Health Equity: Working to advance health equity through diversity in research

May 12, 2021

New report demonstrates development of new medicines relies on private sector expertise and investment

May 10, 2021

New data from insurers show detriments of copay accumulator adjustment programs

April 28, 2021

West Virginia becomes the first state to lower patient costs by sharing the savings

April 20, 2021

Nearly 40% of commercially insured patients face half their annual out-of-pocket expenses from just one health care encounter

March 2, 2021

Top five issues voters want addressed in the administration’s first 100 days

February 18, 2021

Action needed to preserve the six protected classes

February 3, 2021

Insurers shift medicine costs to patients with severe chronic illnesses

February 1, 2021

The new Administration should reconsider a recent HHS rule that could negatively impact patient access and affordability

January 27, 2021

2020 FDA approvals show innovation despite COVID-19 pandemic challenges

January 26, 2021

New insulin report highlights how incentives benefit middlemen, harm patients

January 22, 2021

ICYMI: Cancer death rate continues decline due to advances in treatment

January 19, 2021

New data show retail medicine prices fell in 2019

January 13, 2021

Report: More than 1,300 medicines and vaccines in development to help fight cancer

December 15, 2020

Fact Check: How hospitals continue to drive health care spending

December 3, 2020

Accumulator adjustment programs lead to surprise out-of-pocket costs and nonadherence, analysis finds

November 19, 2020

Study finds biopharmaceutical innovation is responsible for 35% of the increase in life expectancy from 1990 to 2015

October 21, 2020

Survey found insurance premiums grew faster than inflation in 2020

October 20, 2020

Study finds middlemen excluded nearly 850 medicines from formularies this year

September 17, 2020

Manufacturer cost-sharing assistance programs can save chronically ill patients hundreds to thousands of dollars annually

August 19, 2020

Commercial health plans have increased patients’ out-of-pocket costs by over 50% in some therapeutic areas

August 12, 2020

Commercial health plans transition from copays to coinsurance and deductibles has increased patient out-of-pocket costs

August 6, 2020

Four things to know about the IQVIA “Medicine Spending and Affordability in the U.S.” report

August 5, 2020

New data show commercially insured patients face increasingly high cost sharing for brand medicines

July 30, 2020

Payers subject 80% of new RA and MS patients to utilization management restrictions

July 22, 2020

New report explores setbacks that bring future cancer success stories

July 16, 2020

Study finds the pharmaceutical industry retains a smaller share of revenue than research-intensive industries

July 14, 2020

Guest Post: Takeda seeks ‘new normal’ for cancer research during the COVID-19 pandemic

June 24, 2020

ICYMI: Pharmacy benefit managers increasingly exclude medicines from formularies, restricting patient access

June 1, 2020

New rule makes it harder for patients to lower their out-of-pocket costs

May 20, 2020

ICYMI: Patients saved nearly $800,000 out of pocket through innovative contracting arrangements

April 20, 2020

Retail medicine spending to remain stable share of overall health care spending through next decade

April 16, 2020

Nearly 400 cell and gene therapies in development to target a broad range of diseases

March 10, 2020

PhRMA comments on HHS proposed rule on manufacturer cost-sharing assistance and accumulator adjustment programs

March 3, 2020

Addressing barriers that inhibit value-based contracts

February 21, 2020

Fact Check: HCCI analysis overstates medicine spending and prices

February 19, 2020

Cancer medicines cost twice as much at hospitals, study finds

January 21, 2020

ICYMI: 2019 brings innovative medicines to patients

January 17, 2020

Nearly 50% of brand medicine spending goes to the supply chain and others

January 9, 2020

PhRMA comments to Congress on Cures 2.0 call to action

December 18, 2019

New NHE data: Medicine prices declined, and hospitals were biggest driver of health care spending in 2018

December 6, 2019

More evidence that medicine prices are growing at slowest rate in decades

October 4, 2019

The truth about the marketing and promotion of medicines

October 3, 2019

Survey shows out-of-pocket costs top health care concern for voters

October 2, 2019

Four reasons why the radical Pelosi Plan is the wrong approach

September 24, 2019

Hospitals make 9 times more than physicians’ offices on provider-administered medicines

September 10, 2019

Three things to know about the Part D GAO report

August 16, 2019

IP Explained: Why IP protections are important for biologic medicines

July 18, 2019

Setting the record straight on international reference pricing

July 16, 2019

Four states adopt first-in-the-nation laws to protect patients from surprise insurer practices

July 15, 2019

New Let’s Talk About Cost TV ad asks: Why aren’t patients sharing in savings at the pharmacy counter?

July 9, 2019

Study finds hospitals continue to mark up medicines up to 500% of their cost

July 9, 2019

Three reasons why the latest Rx Savings Solutions analysis is misleading

July 2, 2019

"If Washington isn’t careful, we might leave innovation behind"

June 24, 2019

How the rebate rule would help reduce patients’ out-of-pocket costs

June 3, 2019

Guest Post: Using the patient voice to go boldly

May 30, 2019

IP Explained: How Hatch-Waxman successfully balances affordability and innovation

May 22, 2019

Ask About Adherence: OIG proposed rule to reform the rebate system could improve adherence

May 15, 2019

New study finds hospitals continue to push patients to costlier outpatient settings

May 13, 2019

4 Things to know about the IQVIA “Medicine Use and Spending” report

May 9, 2019

Meet MAT: 5 things to know about PhRMA’s new “Medicine Assistance Tool”

May 9, 2019

Six policy solutions to help patients afford their insulin

April 9, 2019

PhRMA comments on OIG proposed rule to reform the rebate system

April 8, 2019

340B continues to drive shift in site of care for physician-administered medicines to more expensive hospital settings

April 5, 2019

Five key facts about the market for insulins

April 1, 2019

OIG proposed rule could help strengthen the Part D market

March 28, 2019

Rebate rule would help ensure seniors with diabetes don’t pay more for their medicine than their insurer

March 25, 2019

The PBM story you haven’t heard: Hidden fees quadrupled in two years

March 20, 2019

OptumRX: Sharing rebates with patients is “worth it”

March 18, 2019