Hospitals participating in the 340B Discount Drug Program purchased $29.9 billion worth of medicines in 2019, according to industry news site Drug Channels, which cited data from the Health Resources and Services Administration.
The amount spent on discounted 340B drugs in 2019 is 23 percent higher than the amount spent through the program in 2018, according to the report.
In total, more than 2,500 hospitals participated in the program in 2019, and more than 25,000 pharmacies contracted with 340B covered entities in 2019, according to HRSA data.
Since 2014, purchases under the 340B program have tripled. The program now accounts for 8 percent of the total U.S. drug market, Drug Channels said.