As the U.S. economy continues to stabilize in the wake of the COVID-19 pandemic, prescription volumes continue to rebound as well. The overall market growth for prescription drugs from May 21–28 hit 21% year over year, according to IQVIA data. The growth rate in the prior two weeks was 13%.
New prescription growth from May 21 to 28 increased 34% year over year while retail growth hit 23%. In general, pharmacy chains have seen a rapid upward trend in sales since December 2020, with growth stabilizing in May 2021.
While mail-order prescriptions have expanded during the pandemic, total mail-order prescriptions accounted for only 5.2% of the total prescription drug market in late May.
All of the 42 therapeutic areas that Truist Securities tracks grew from May 21 to 28.
A recently released analyst report from UBS’s Kevin Caliendo, however, noted tha…