The stakes are high. Total U.S. spending on pharmaceuticals was projected to top $229 billion in 2007, and, according to the Centers for Medicare and Medicaid Services, prescription drug spending is expected to exceed $497.5 billion by 2016.
With an estimated 90% of Americans taking one or more prescription medications in a year and almost three-quarters of the American population covered by some type of managed pharmacy plan, it’s more important than ever for pharmaceutical companies to have a formulary strategy in place that favorably positions their products for reimbursement.
Prescription Drug Use Trends
Experts on this Topic
Sean Brandle. National Rx Practice Leader, The Segal Company, New York; The Segal Company is a private employee-owned actuarial and consulting firm. For more information, visit segalco.com.
Larry Olson. VP and Practice Leader, Payer Markets, TNS Healthcare, New York; TNS Healthcare provides market research consulting and custom advisory services to the worldwide pharmaceutical, biotech, and medical-device industries, as well as health-focused ad agencies, media, and financial analysts. For more information, visit tnsglobal.com.
Jeff Thomas. President, inVentiv Strategy & Analytics, a division of inVentiv Health, Somerset, N.J.; inVentiv Strategy & Analytics provides clinical, communications, and commercialization services to take pharma products from development through launch to commercial success. For more information, visit inventivhealth.com.