The era of “pills in a bottle”—dominated by small molecule drugs for chronic conditions—has given way to innovative biologics, specialty drugs, and most recently, cell and gene therapies targeting rare, orphan, and complex diseases. Some of these new therapies offer the potential for one-time, curative treatments but come with unprecedented price tags. This Snapshot, in combination with the Employer Action Brief, provides information on the growing marketplace for Ultra-High-Cost Therapies (UHCTx), along with existing and emerging cost challenges and opportunities, current finance and coverage models, and what the future landscape looks like.