IQVIA Report: Blockbuster Drugs Now Drive Majority of Branded Spend
In its roundup "How blockbuster drugs are reshaping drug spend: 7 notes," Becker's Hospital Review summarizes an Oct. 22 IQVIA Institute report analyzing blockbuster drugs from 2000 to 2024. The number of blockbusters, defined by an inflation-adjusted $2.4 billion global sales threshold, grew from 19 to 91 over that period, now representing about $700 billion in sales and 63% of global branded medicine sales despite being just 2-4% of products. The mix has shifted from primary-care drugs to specialty medicines in oncology, immunology and diabetes, with sales concentrating in "mega" blockbusters. Nine mega blockbusters face U.S. loss of exclusivity between 2028 and 2036, which IQVIA says will pressure manufacturers to replenish pipelines while potentially generating payer savings as generics and biosimilars enter; new drugs are meanwhile launching at a median net price of $257,000 a year.