Speaking of generic drug makers, here's a news flash: Their revenue will continue to soar in coming years, according to a top industry analyst from IMS Health.
Global sales of generics already are growing at 14 percent annually, compared with single-digit increases at brand-name drug makers. Medicines worth $12 billion lose patent protection this year, and $20 billion will go unprotected next year.
But, the analyst said, a dearth of innovation in brand-name drugs won't end by hurting Big Pharma--it will wound generics makers, too, because their growth depends on having new drugs to copy. And the rise of generics makers in India and China will bring price competition to the party. None of this is news to alert observers of the industry, but it was said at a conference podium, so that makes it official.
- check out the AP report for more information
FDA backlog slows generic drug approval. Report
Patent 'cliff' looms for Big Pharma. Report
Democrats to push for generic biotech drugs. Report
Generic competition heats up. Report