U.S. Prescription Drug Spending Rose 10.2% in 2024

A new report from the American Society of Health-System Pharmacists revealed that prescription drug spending in the United States reached nearly $806 billion in 2024, up 10.2% from 2023. The increase was largely driven by the demand for weight loss medications, including glucagon-like peptide-1 (GLP-1) drugs. GLP-1 medications are prescribed for diabetes and obesity and are now the top drug category by total spending and the fastest-growing segment on the market. The report also suggests that oncology, vaccines, and new generics and biosimilars may influence prescription, clinic and hospital spending in 2025:

As prescription costs rise, employers may see an increase in health care expenses. While employers can’t control the price of pharmaceuticals, they can help by educating employees on benefits offerings, best practices and coverage specifics. By arming employees with knowledge about the health care system, such as how to find generic medications, employees can make informed decisions about their medications.

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Article Publsihed By: Zywave, Inc.