Spending on prescription medicines in the U.S. fell for the first time in decades last year, slipping as cash-strapped consumers continued to cut back on use of health care services.

The Supreme Court struggled Monday with whether it should allow federal officials to challenge deals between pharmaceutical corporations and their generic drug competitors that the government says could keep cheaper forms of medicine off the American market for longer periods of time.

CVS Caremark Corp. said Tuesday that its third-quarter earnings climbed 16 percent. The drugstore operator and pharmacy benefits manager posted revenue increases in both businesses, benefiting from new customers won from rivals, and raised its full-year earnings outlook.

If brand-name prescription medicines cost you as little as generic pills, which would you choose? A few drugmakers are betting Americans will stick with the name they know.

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.

The Supreme Court's decision Thursday to uphold President Barack Obama's historic overhaul is expected to be a boon to most of the health care industry by making coverage more affordable for millions of uninsured Americans.

Finding the right nursing home for an elderly loved one is a daunting task. And it's one most of us will face, as two-thirds of people over 65 will need nursing home care, at least temporarily, according to AARP.

Pfizer Inc.'s first-quarter profit fell 19 percent, because of legal and other charges and new generic competition to blockbuster cholesterol pill Lipitor that cut the drugmaker's U.S. sales by 15 percent.