Rising costs of prescriptions have brought the pharmaceutical industry under increasing scrutiny over the last decade. With a pandemic now added to the mix, there is an added layer of pressure for change.
According to the American Society of Health-System Pharmacists, the U.S. spent $535.3 billion on prescription drugs alone in 2020, a shocking increase from 2019’s $369.7 billion expenditure, due to increasing drug use. SingleCare reported that within the first seven months of 2021, 1,283 different medications underwent a surge in price, a 16% increase compared to last year.
