Health care research firm IMS Health released a report stating that US pharmaceutical sales will no longer have the 50 percent share they held in 2006 but will experience a drop of a third of global sales in 2008.
Losses from patent protection of drugs will reach $20 billion in lost annual sales and will only be partially offset by the boom in drug sales in emerging economies like China, Brazil, Turkey and Mexico. IMS is comparing the 6 to 7% increase in 2006, which netted $695B to $705B, to the projected global sales of 2008 of 5 to 6 percent. The US is expected to experience only a 4 to 5 percent increase.
The decrease is caused by the expiration of US patent drugs like Johnson & Johnson's schizophrenia drug, Risperdal and Merck & Co Inc.'s Fosomax as well as new warning labels on profitable drugs, the loss of FDA approval on some and the rejection of highly anticipated products.
"What we see is more information on drug usage becoming available and being mined to find risks and safety issues," said Murray Aitken, a senior vice president with IMS Health. "Overall this means more uncertainty for companies, as well as for their ability to get products to patients."
[Source: Yahoo News]
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