ACA will boost pharma through higher Rx drug spending, CMS says

12/26/2013 | Forbes

The Affordable Care Act will drive up prescription drug spending next year, and this will ultimately benefit the pharmaceutical industry, according to the Center for Medicare & Medicaid Services. Spending on prescription medicines is predicted to increase 5.2% next year, much higher than the 0.6% gain this year, the agency said, adding that drug sales will be buoyed by the anticipated growth in prescription drug use among newly insured Americans and those who will sign up for accessible insurance plans. Without the ACA, the expected gain in prescription drug spending would be 2.9% lower next year, according to the agency.

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