Specialty drugs reportedly reached 50 percent of all drug spending in 2020, a figure that has increased significantly over the last decade.
Among the world’s top 20 pharmaceutical companies, ranked according to their 2021 revenue, 19 generate most of their sales from specialty medicines. Overall, 55 percent of pharmaceutical revenues are driven by specialty drugs. This basic fact about how prescription drug companies make money is mostly lost on the general public, but is instructive for understanding how the entire industry works, and why it is relatively recession-proof.
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