High-cost specialty and orphan drugs are expected to dominate new drug approvals, and the pharmacy benefit manager industry, working with stop-loss carriers, can help self-insured employers better manage claims, said panelists at a session at the Pharmacy Benefit Management Institute’s annual meeting in Orlando.

Specialty drugs continue to be at the top of many spending reports, and employers predict healthcare costs will increase about 9% for 2026, according to a new report from Business Group on Health’s Employer Health Care Strategy Survey . One of the biggest cost drivers is cancer care. For the fourth year in a row, the growing prevalence of cancer diagnoses and escalating costs have led to increased spending.

Specialty medicines will represent about 46% of global drug spending by

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