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Global spending on drugs may top $1 trillion next year

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WASHINGTON — Global spending on pharmaceuticals is expected to surpass $1 trillion for the first time next year, propelled in large part by the rising demand for cheap generic drugs in China and other emerging markets, according to a new forecast from the IMS Institute for Healthcare Informatics.

More than two-thirds of all pharmaceutical drug spending occurs in eight countries: the U.S., Germany, France, Italy, Britain, Spain, Japan and China, the institute found.

Still, the next five years will see…

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