The headline number in the latest drug-spending report from IMS Institute for Health Informatics is this: $1 trillion. Next year, the world market for prescription drugs will pass that lofty threshold. By 2017, the market will swell further to $1.2 trillion. That's an increase of up to $260 billion over the next 5 years.
Major tech and services firms would love for pharma to give cloud computing a wholehearted embrace, but the reality is that cloud software and services have trickled into the spending plans of drugmakers as they slowly warm up to web-based systems.
Continuing its acquisition spree, IMS Health has scooped up yet another cloud-based software company--the fourth in the past several months--buying up Raleigh, NC-based Incential Software to advance its sales and planning capabilities for life sciences companies on an even broader scale.
IMS Health has made its third cloud-based acquisition in as many months, snapping up mobile sales and marketing systems provider 360 Vantage. The deal continues IMS' whirlwind push into the cloud that has also seen it snag Appature and Semantelli in the past few months.
IMS Health has purchased Semantelli, a software startup whose technology reduces the risk of social media engagement for pharma companies. Drugmakers have tiptoed in the wild realm of the social web over fears about regulatory snafus and compliance headaches. Semantelli has helped pharma companies with those worries and has been rewarded.
It's confirmed: Another study shows that U.S. drug spending dropped ever so slightly last year. The obvious culprit is generic drugs, with major blockbusters such as Pfizer's ($PFE) Lipitor and AstraZeneca's ($AZN) Seroquel IR now facing cheap rivals.
Doctors prescribe the "Z-Pak" for everything from ear infections to pneumonia. But the FDA wants to make clear that for a small group of people, there is a better than average chance it will mess with their heart rhythms and possibly kill them.
When is a blockbuster not a blockbuster? When its sales are adjusted for inflation--or for share of the global pharma market. That $1 billion blockbuster threshold might have been a lofty goal in 1987, but in today's dollars, the bar would stand at $1.75 billion, an IMS Health consultant postulates in an article for PharmaPhorum.
One of the hot trends in cancer medication is genetic tests that can tell doctors if a related treatment will work on certain patients.
Turkey's pharma market isn't as high-profile as the oft-celebrated China or India. But that doesn't mean foreign drugmakers aren't looking for ways to beef up their operations in the country.