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.
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?