Express Scripts Report: U.S. Drug Spending Up Just 3.8% In 2016 - Quick Facts

(RTTNews) - Express Scripts (ESRX) reported that, according to the 21st edition of its annual Drug Trend Report, the 2016 growth rate in prescription drug spending was just 3.8 percent - a 27 percent decrease from 2015. The company said, between 2015 and 2016, nearly half of employers whose pharmacy benefits were managed by Express Scripts saw a year-over-year increase in per-person spending of less than 3.7 percent, and one-third of employers had a decrease in pharmacy spending.

Glen Stettin, Chief Innovation Officer at Express Scripts, said: "In a year where the issue of high drug prices was No. 1 on the list of payer and policy maker concerns, the data show that our solutions protected our clients and patients. By practicing pharmacy smarter, we uniquely make medicine more affordable and accessible for patients. We do this by driving down drug prices and ensuring appropriate use of clinically-proven medicine, while helping employers remain competitive."

The company reported that, for the second consecutive year, patients of pharmacy plans managed by Express Scripts saw their total share of pharmacy costs decrease, despite using more prescriptions. Patients paid 14.6 percent of the total cost of a prescription medication in 2016, compared to 14.8 percent in 2015.