Medicare Prescription Drug Benefit Increased Medication Sales by $2.5B, Study Finds
The Medicare prescription drug benefit last year increased U.S. medication sales by $2.5 billion, or 1%, a trend that has contributed to increased earnings for Pfizer and other pharmaceutical companies, according to research company IMS Health, Bloomberg/Philadelphia Inquirer reports. According to IMS Health, purchases last year under the Medicare prescription benefit accounted for one-sixth of the total increase in medication sales. The Medicare prescription benefit last year also contributed to increased earnings for UnitedHealth Group and other health insurers that sold plans to 22.6 million beneficiaries under the program (Bloomberg/Philadelphia Inquirer, 1/20).
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