Spending on branded, generic drugs increased in 2011, IMS report finds
PARSIPPANY, N.J. — People ages 65 years and older reduced their volume of prescriptions, while those ages 19 to 25 years increased their use of prescription drugs as the healthcare-reform law allowed them to remain on their parents’ insurance, according to a new report by IMS Health.
The report, "The Use of Medicines in the United States: Review of 2011," found that per capita spending on U.S. medicines grew by 0.5% as healthcare system spending reached $320 billion and new drug launches opened new treatment options for more than 20 million Americans.
"2011 was a remarkable year for the volume of drug breakthroughs that became available to millions of Americans," IMS Institute for Healthcare Informatics director of research and development Michael Kleinrock said.
The report found that 34 new drug molecules were launched in 2011 — the most in a decade — including first-time treatments for multiple sclerosis, several types of cancer, hepatitis C and cardiovascular conditions. The year also saw the largest number of launches of orphan drugs, which the Food and Drug Administration defines as treating diseases that affect fewer than 200,000 Americans.
"At the same time, some troubling trends that began in 2009 persisted, with many patients appearing to ration their medical care," Kleinrock said. "The implications of fewer doctor visits and lower drug utilization on patients’ health have yet to play out and require further study."
According to the report, the number of doctor office visits declined by 4.7%, while emergency room admissions increased by 7.4%. Retail prescription drug use declined by 1.1%, including a 3% decline in 10 states. While people ages 19 to 25 years increased prescription drug use by 2% — with notable rises in the use of antidepressants and attention deficit hyperactivity disorder — seniors’ use of drugs decreased by 3.1%. The younger age group was the only one whose use of prescription drugs increased.
Meanwhile, total spending on branded drugs increased by 2.2%, while spending on branded drugs launched within the past two years was $12.2 billion in 2011, compared with $8.5 billion in 2010. Spending on generics increased by $5.6 billion, and generics now account for 80% of dispensed prescriptions. Nearly one-third of total healthcare spending was concentrated on cancer, diabetes, dyslipidemia, mental health and such respiratory disorders as asthma and chronic obstructive pulmonary disease.
CVS/pharmacy’s Rob Price named to 2012 Class of Henry Crown fellows
WASHINGTON — Rob Price, CVS/pharmacy’s SVP and chief marketing officer, has been named to the Aspen Institute’s 2012 Class of Henry Crown fellows.
The Henry Crown Fellowship is designed to engage the next generation of leaders in the challenge of community-spirited leadership. It brings together executives from the business world — all entrepreneurs, all younger than 45 years — who have already achieved conspicuous success in their chosen fields and are at a point of inflection in their lives and careers. Previous Henry Crown fellows have included Deval Patrick, governor of Massachusetts; Michael Powell, former Federal Communications Commission chairman; and Reed Hastings, CEO of Netflix.
“Rob represents the type of leader that we believe has the capacity to make a significant impact on our society,” stated Eric Motley, managing director of the Henry Crown Fellowship. “As you can imagine, we are all the more excited to welcome him into the fellowship of 20 other like-minded individuals.”
“Rob’s appointment to the Henry Crown Fellowship for 2012 speaks to the quality of our leadership at CVS Caremark,” stated Larry Merlo, president and CEO of CVS Caremark. “We’re proud of Rob’s selection for this prestigious program, which is focused on community-spirited leadership.”
At CVS/pharmacy, Price is responsible for advertising, promotion, marketing, customer relations and consumer research, as well as retail innovation and store design, the CVS.com e-commerce business and the ExtraCare loyalty program. He also has been instrumental in the integration of the store and digital environments for CVS/pharmacy.
Patents covering Sanctura XR invalid, court rules
PARSIPPANY, N.J. — A court has ruled that patents covering a drug designed to treat an overactive bladder are invalid, a company looking to launch a generic version of the drug said.
Watson Pharmaceuticals said the U.S. District Court for the District of Delaware ruled that five patents covering Allergan’s Sanctura XR (trospium chloride) extended-release capsules were invalid. Watson’s application with the Food and Drug Administration for a generic version are pending, the company said.
Sanctura XR had sales of $68 million during the 12-month period ended in February, according to IMS Health.