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[Chart] Pharma Companies Make Billions as Prescription Spending Soars

By , Associate Editor, Money Morning • @KyleAndersonMM -

Biotech Investing

Prescription drug spending continues to hit record highs, and the world's top pharma companies continue to bank billions.

More than $374 billion was spent on prescription drugs in the United States in 2014, according to a report from the IMS Institute of Health. That was a 13.1% jump from 2013, and the highest growth rate in more than a decade, says ExpressScripts.

Here's a look at how U.S. prescription drug spending has trended over the last 10 years..