2024 Drug Trend Report
An Update on Cost, Utilization, and Emerging Forces in Pharmacy Benefits.
The U.S. drug landscape continues to evolve rapidly, shaped by rising utilization, therapeutic breakthroughs, biosimilar competition, and new patient access pathways – especially in high-cost categories like GLP-1s. This report looks back at 2024 drug cost and utilization trends across our client base to identify key forces that are reshaping pharmacy benefits. Amoung the key takeaways from our 2024 data:
34%
GLP-1s responsible for 34% of the category spend
GLP-1 medications for diabetes and weight loss emerged as the top non-Specialty cost drivers.
13%
OVERALL PLAN-PAID COSTS ROSE 13%
A slower pace than in 2023, offering early signals that cost-containment strategies are gaining traction.
- Specialty costs trended downward due to early wins with biosimilars and therapeutic optimization.
- Biosimilars gained real traction, especially in inflammatory conditions.
By understanding where 2024 spend came from — and what changed compared to prior years — plan sponsors can make smarter, data-informed decisions in 2025-26.
GET THE REPORT
Read on to gain a better understanding of how drug trend unfolded in 2024 and what to keep top of mind in 2025-26
