Global spending on drugs expected to surpass $1 trillion in 4 years

Global spending on prescription drugs is forecast to exceed $1.1 trillion by 2024, according to a new study cited by STAT.

The study, conducted by researchers from the IQVIA Institute for Human Data Science, said that global spending will increase 2 percent to 5 percent annually for the next five years. Researchers used net sales, or drug prices after rebates and discounts, to calculate the forecast.