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CELG - U.S. healthcare spending nearing 20% of GDP
Celgene Corporation
The WSJ reports that healthcare spending in the U.S. will soon reach 20% of GDP, a significantly higher proportion than any other major economy. The key cost driver has been price hikes, not increased demand. Since 1960, the CPI has risen ~700% while medical costs have risen 2,000%. Since 2000, prescription drug costs have grown 69%, hospital care 60% and physician and clinical services 23%.
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