Report: Global drug market to reach $1.2T by 2017

An IMS Health report found that prescription drug spending growth will slow worldwide as generic drugs continue to gain traction in Europe and in the U.S. The market will grow by only 3% to 6% in the next four years to $1.2 trillion by 2017, compared with the last four-year period's growth rate of 5.4%, the report said. However, drug spending is expected to grow fast in developing countries such as China behind government investments in wider access to care, the expansion of the middle class and improvement in economic fortunes.

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