Hospital pharmaceutical costs marginally decreased in 2023 because of the lessened need for COVID-19 drugs, but overall healthcare spending on drugs grew 13.5% — largely because of weight loss medications, a new study found.
The researchers said weight loss drugs will continue to increase costs, especially as more are approved and existing ones gain new indications, the American Society of Health-System Pharmacists said in an April 24 news release.
"Adding to the weight loss category, spending on the diabetes drug tizepatide [Mounjaro, Zepbound] grew an astounding 373% even though its approval for weight loss came late in 2023," the release said.
The study also found a 15% increase in drug expenditures in clinics because of the increased use of high-cost injectable medications for cancer, immunology and neurology. In hospitals, expenditures minimized 1.1% compared to 2022.
"Hospitals and health systems are doing a commendable job using available tools to manage drug expenditures, which typically represent about 10% of their budgets," Eric Tichy, PharmD, the study's lead author and a division chair at Rochester, Minn.-based Mayo Clinic, said in the release. "Pharmacy and health system leaders should persist in their proactive management and continue to anticipate disruptions that may affect drug spending."