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Article: Specialty drugs are wave of future.(RX RETAIL PHARMACY: Branded Drugs)
- Article from:
- Chain Drug Review
- Article date:
- September 17, 2007
CopyrightCOPYRIGHT 2007 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOSTON -- Specialty medications are playing a much larger role in the nation's health care system and are expected to account for a much larger chunk of the country's drug spending in the next few years, an industry insider told a small audience at the National Association of Chain Drug Stores Pharmacy and Technology Conference here last month.
"From 1982 to December 2005 254 biotech drugs were approved for 385 indications," noted Richard Faris, vice president of health outcomes for the Accredo Health Group. "By 2010 half of all FDA approvals will be specialty drugs."
Since 2003, he stated, spending on specialty drugs has increased by an average of 20% ...