Prescription drug spending jumps 13% to record $374 billion in 2014

April 14, 2015 10:05 AM

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Driven by innovative but pricey new drugs for hepatitis C, U.S. spending on prescription drugs jumped 13% last year to a record $374 billion, according to an industry report.

The new hepatitis C drugs accounted for more than $11 billion of the spending, according to a report by IMS Institute for Healthcare Informatics, an industry research firm. Its annual report analyzes pharmaceutical sales, top-selling drugs and trends in the industry.

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