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New Nonbiosimilar Drugs Account for Majority of Part B Drug Spending Increases

Drug spending for products facing generic or biosimilar competition decreased during the same time period.

Covid-19 vaccines & therapies helped push medicines spending to $407B in 2021

While Covid-19 has had a significant impact on drug spending, IQVIA projects that its effect will moderate in coming years. IQVIA’s new report on U.S. medicines spending projects that immunology, oncology, and neurology will continue to drive the growth in drug spending.

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