US PMB sees lowest Rx spend growth

Prime Therapeutics, a US pharmacy benefit management group, has released its 2008 Drug Trend Insights report which reveals that its 2007 prescription drug trend increased by just 2.9%, the lowest annual increase it ever recorded, and less than half of what the company reported in 2006.

Tim Dickman, The PBM's chief executive, said the biggest factor in the low drug trend was the rising acceptance of generic medications, which shifted the drug mix toward lower cost products and offset cost increases due to inflation. Prime's generic drug utilization rose 5% during 2007, to 56.7 % of total prescriptions filled.

"We've very encouraged with how we've been able to drive generic utilization for our members and consumers because we know that the use of generic medications is the most effective way to keep prescription drug spending manageable," said Mr Dickman. "A lack of blockbuster drugs in the pharmaceutical development pipeline along with increasing acceptance of generic drugs by consumers suggests that the low increase we saw during 2007 will be sustained for some time to come," he added.