--- title: U.S. Prescription Drug Spending Escalates by 10.2% in 2024 description: A recent report shows U.S. prescription drug spending hit nearly $806 billion in 2024, a 10.2% rise from 2023. image: https://blog.nisbenefits.com/hubfs/blog-headers/drug-spend-24-b.jpg --- ![U.S. Prescription Drug Spending Escalates by 10.2% in 2024](https://blog.nisbenefits.com/hubfs/blog-headers/drug-spend-24-b.jpg) # U.S. Prescription Drug Spending Escalates by 10.2% in 2024 - Home - [Employee Benefit News for School, City and County Employers](https://blog.nisbenefits.com) - U.S. Prescription Drug Spending Escalates by 10.2% in 2024 [ Mari Wagner ](https://blog.nisbenefits.com/author/mari-wagner) 05/27/2025 [ Health Insurance Solutions](https://blog.nisbenefits.com/topic/health-insurance-solutions), [ Legislative News](https://blog.nisbenefits.com/topic/aca-other-legislative-news) [0 Comments ](https://blog.nisbenefits.com/prescription-drug-spending-escalates-in-2024#postComment) 1 Minutes *1 minute read* A [report](https://academic.oup.com/ajhp/advance-article-abstract/doi/10.1093/ajhp/zxaf092/8117945?redirectedFrom=fulltext) from the American Society of Health-System Pharmacists (ASHP) shows U.S. prescription drug spending hit nearly $806 billion in 2024, a 10.2% rise from 2023, driven by the demand for weight loss drugs like GLP-1, now the leading and fastest-growing drug category. Tariffs on pharmaceutical ingredients, particularly from China, may raise prescription drug prices, leading to shortages and forcing patients to opt for costlier brand-name alternatives. The ASHP report indicates that these factors could impact prescription, clinic, and hospital spending in 2025: - **Oncology spending - **High-cost drugs and new therapy implementations may increase oncology spending. - **Vaccine expenses** **-** Post-COVID-19, vaccine spending has declined, and rising anti-vaccine sentiment may lead to increased costs in other healthcare sectors. - **New generics and biosimilars - **Affordable prescription drug options can curb spending growth, with Entresto's patent expiring in 2025.   ## **Employer Takeaway** As prescription costs rise, employers face higher healthcare expenses. While they can't control drug prices, they can educate employees on benefits, best practices, and coverage details. By informing employees about the healthcare system, such as finding generic medications, they can make informed choices. Download the [bulletin](https://blog.nisbenefits.com/hubfs/blog-supporting-docs/bulletin-prescription-drug-spending-2024.pdf) for more details. 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