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First-Ever Decline in Prescription Drug Prices in US in 45 Years

December 10, 2019

Reduction in the price of prescription drugs is a rare event. Several factors could be responsible for a decline in prices that affects the overall pharmaceutical industry. The US witnessed 1% reduction in the prices of prescription drugs in 2018, as revealed by the government.  Despite the modest decline in prices, it holds significance for the US pharmaceutical industry. This is because reduction in drug prices observed for the first time in 45 years across the US.  The Federal Department of Health and Human Services revealed several details about this decline in its annual report. The report also enunciates healthcare spending of the nation. The next decade is expected to witness key changes in the pharmaceutical sector of the US.