Here are five things to know:
1. IMS Health data estimates the United States spent a combined $309.5 billion in 2015 on prescription medications.
2. This exorbitant amount of money is partly due to costly new drugs and price hikes on medications.
3. Another factor driving spending is the influx of newly insured Americans. With the ACA, nearly 20 million Americans gained health insurance.
4. Last year, drug manufacturers launched 43 new medications and 30 new formulations of existing drugs.
5. Drug spending increased 10.5 percent in 2014.
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