Diabetes Drug Spending Slated to Balloon 70 Percent
Medco, a pharmacy benefit managing company, has released its 2007 Drug Trend Report, and diabetes drugs are big news. The report projects that between 2007 and 2009, there could be a near 70 percent increase in spending on endocrine and diabetes drugs.
Spending on diabetes meds is expected to grow 16 to 20 percent annually, as use increases each year by eight to ten percent and patients more often use new drug combinations.
Diabetes treatments were the second leading contributor to prescription drug spending growth in 2006, topped only by cholesterol drugs. The use of diabetes drugs increased 5.1 percent, and spending on diabetes treatments increased 14.5 percent between 2005 and 2006. As newer drugs are increasingly prescribed as first-line therapy, they are also expected to drive costs higher.