Spending on drugs slows due to increased use of generics but new price increases loom

Spending on prescription drugs nationwide has been slowing for years, reports the New York Times, because of the increasingly widespread use of low-cost generics. But in 2012, something unheard-of happened: money spent on prescription drugs actually dropped. But some are warning that the ever-expanding use of generics has masked a growing problem for the government, insurers and others who pay the bill for prescription drugs: the rising cost of complex specialty medicines that treat cancer, rheumatoid arthritis and other diseases.