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Prognosis for Big Pharma
[By Staff Writers]
According to the Wall Street Journal, generic drug competition is expected to wipe $67 billion from top pharmaceutical companies’ annual U.S. sales between 2007 and 2012.
Why? More than three dozen drugs lose patent protection; roughly half of the companies’ combined 2007 U.S. sales.
Moreover, during the five years from 2002 through 2006, the industry brought to market 43 percent fewer new chemical-based drugs than in the last five years of the 1990s, despite doubling R&D spending.
Assessment
And so, what do you think about this grim prognosis for big pharma as patents expire and the industry is failing to find new drugs to replace existing ones?
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Filed under: Drugs and Pharma | Tagged: Big Pharma and Drugs |
A New Drug Pricing Report
Did you know that according to Delta Marketing Dynamics, the nation’s pharmaceutical companies increased wholesale prices for the 50 top-selling branded drugs by an average of 7.82 percent in 2007? And, similar increases of 6.73 percent and 6.22 percent were noted in the previous two years that were almost double the overall U.S. economy’s 4.1 percent annual inflation rate.
Some individual drugs even had double-digit price increases over three years. For example:
• GlaxoSmithKline PLC raised the price of antidepressant Wellbutrin XL by 44.5 % from 2005-07;
• Sanofi-Aventis SA raised the price of sleep drug Ambien 70.1 percent;
• Shire PLC increased the price of attention-deficit disorder medication, Adderall XR, by 33.5%;
• Cholesterol fighting Lipitor-the world’s top selling drug that made $13 billion in 2007 for Pfizer Inc-rose 16 %.
The report was published in the Wall Street Journal.
Jake
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Pharma Companies Spent $148,047,760 on Lobbying in 2015
The LA Times recently released an article on healthcare industry political lobbying. Here are some key findings from the report:
• Pharmaceutical manufacturing spent $148,047,760 on lobbying in 2015.
• Hospitals and nursing homes spent $93,592,884 on lobbying in 2015.
• Health professionals (including physician groups) spent $89,928,202.
• Health services/insurers/HMOs spent $74,356,196 on lobbying in 2015.
• In 2016 pharmaceutical companies contributed over $17 million to campaigns.
• The top recipient of industry money was Paul Ryan who received $230,000+
Source: LA Times, November 15, 2016
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Janssen Spent $7 Billion on Research and Development in 2016
Janssen recently released a price transparency report for 2016. Here are some key findings from the report:
• Janssen spent $7 billion on research and development in 2016.
• The average list price change of Janssen pharmaceuticals was 8.5%.
• The average net price change of Janssen pharmaceutical products was 3.5%.
• Janssen offered $11 billion dollars in total rebates and discounts in 2016.
• 870,000 commercially insured patients used the Janssen CarePath Savings Program.
• Janssen spent $4.5 billion on global pharmaceutical marketing and sales.
Source: Janssen, February 27, 2017
Shuster
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