Global Drug Spending To Climb Amid Market Shifts, Report Says

Law360, New York (July 12, 2012, 9:25 PM EDT) -- Global spending growth on pharmaceuticals will rebound over the next several years, despite relatively slow growth in developed countries like the United States and a continuing wave of patent expirations, predicted a report released Thursday.

The IMS Institute for Healthcare Informatics, which tracks pharmaceutical spending, estimated that drug spending growth will more than double between now and 2016, from $30 billion a year to $70 billion a year. Drug spending worldwide could hit $1.2 trillion that year, the report said.

That growth will be fueled by...
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