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NEW YORK (AP) - Global pharmaceutical sales rose 7 percent to $643 billion last year, fueled by strong international demand for cancer treatments and robust growth in the U.S. market spurred by the Medicare drug benefit, a report released Tuesday said.
U.S. prescription drug sales rose 8.3 percent to $274.9 billion last year as the Medicare drug benefit gave more people the opportunity to purchase medicines, according to IMS Health, which tracks prescription information and issued the report.
However, growth is shifting toward emerging markets as less developed countries prosper and spend more money on health care, said Murray Aitken, senior vice president for corporate strategy at IMS.
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