TRENTON, N.J. (AP) — Growth in global spending on medications will slow markedly over the next four years due to a slew of new low-cost generic drugs coming to pharmacies in the U.S. and other developed countries, along with slower increases in what those countries spend on brand-name drugs, according to a new forecast.
That's good news for patients and the employers, labor unions and taxpayer-funded government health programs that help pay for drugs.
During a same period, from 2012 through 2016, the pharmaceutical industry will sharply boost its sales in emerging markets including China, India and Russia, according to the report from data firm IMS Health, which collects and analyzes data on pharmaceutical sales around the world.
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