OECD comments on high priced medicines straining wealthy nation's health budgets
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The Organisation for Economic Co-operation and Development Specialty (OECD) has expressed its strong concern over high priced specialty medicines putting a solid dent on the health budgets of wealthy nations.
Such drugs account for close to 20 per cent of their total health spending, which OECD opines is putting considerable pressure on the 33 recognized OECD countries.
The OECD report has cited reason such as rising demand for drugs coupled with the fact that 'new treatment options' are fast emerging-will lead to the situation only getting aggravated. OECD has also expressed strong concerns about how long the patients and respective governments can afford these expensive drugs; given the fact that on an average, one in every five health dollars is spent on pharmaceuticals in OECD countries.
Further, the OECD reported that new drugs and rising demand will continue to inflate the budget of these nations, with the recent pharmaceutical spending having reached $800 billion in 2013.
"The emergence of new high-cost, specialty medicines targeting small populations and/or complex conditions has prompted new debate on the long-term sustainability and efficiency of pharmaceutical spending," the organisation said.
Such drugs account for close to 20 per cent of their total health spending, which OECD opines is putting considerable pressure on the 33 recognized OECD countries.
The OECD report has cited reason such as rising demand for drugs coupled with the fact that 'new treatment options' are fast emerging-will lead to the situation only getting aggravated. OECD has also expressed strong concerns about how long the patients and respective governments can afford these expensive drugs; given the fact that on an average, one in every five health dollars is spent on pharmaceuticals in OECD countries.
Further, the OECD reported that new drugs and rising demand will continue to inflate the budget of these nations, with the recent pharmaceutical spending having reached $800 billion in 2013.
"The emergence of new high-cost, specialty medicines targeting small populations and/or complex conditions has prompted new debate on the long-term sustainability and efficiency of pharmaceutical spending," the organisation said.
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