Drug Channels released its 2019 report on drug spending of the nation's three largest pharmacy benefit managers, CVS Health, Express Scripts and Prime Therapeutics.
The three PBMs accounted for about 60 percent of pro forma U.S. retail mail, long-term care and specialty equivalent prescription claims in 2019.
Changes in nonspecialty drug spending:
CVS Health: -4.9 percent
Express Scripts: -5 percent
Prime Therapeutics: -0.8 percent
This is the third consecutive year that spending growth in nonspecialty drugs declined by mid-single digits, according to pharmacy news site Drug Channels. The decline can be attributed to deeper commercial rebates on brand-name drugs, deflation in generics and a small increase in generic dispensing rates.
Changes in specialty drug spending:
CVS Health: +9.3 percent
Express Scripts: +11.6 percent
Prime Therapeutics: +14.1 percent
A majority of specialty drug-spending growth can be attributed to the growth in the number of people being treated and the number of prescriptions being dispensed, Drug Channels reported.
Overall change in drug spending:
CVS Health: +1.4 percent
Express Scripts: +2.3 percent
Prime Therapeutics: +4.7 percent
Read the full report here.