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Financial Services Industry

The Kiplinger Monitor - index of pharmaceutical industry - Brief Article - Statistical Data Included

Kiplinger's Personal Finance Magazine, March, 2000 by Catherine Siskos

11%

Estimated average annual increase in insured spending on prescription drugs through 2008, compared with 6% per year for hospital and physician care.

Projected average annual increase in out-of-pocket spending on prescription drugs through 2008.

$3.20

Price of one 300-milligram tablet of the ulcer drug Zantac, compared with 44 cents per pill for the generic version.

$500 MILLION

Average cost from lab to market for one new drug. Only one in 5,000 drugs actually reaches the market.

3 YEARS

Period for which a bill in Congress would extend patents for eight medications to encourage pharmaceutical companies to develop new drugs.

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$11 BILLION

Estimated cost to consumers for the delay in developing generic alternatives for those eight drugs.

SOURCES: Health Care Financing Administration, Pharmaceutical Research and Manufacturers of America, Prime Institute of the University of Minnesota College of Pharmacy

Financial Services Industry

The Kiplinger Monitor - index of pharmaceutical industry - Brief Article - Statistical Data Included

Kiplinger's Personal Finance Magazine, March, 2000 by Catherine Siskos

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