Here's statistical confirmation of the gloom-and-doom facing Big Pharma. Worldwide sales growth will slow next year to around 5 percent from 6 to 7 percent this year, according to a new report from IMS Health. In the U.S., growth will hit a historic low of 4 to 5 percent as generics march in to battle with brand-name drugs like Johnson & Johnson's Risperdal and Merck's Fosamax. And because of increased FDA scrutiny, new drugs aren't likely to fill the void.
Meanwhile, emerging markets will account for one-quarter of the increase in pharma sales--but they'll be buying generics because they can't afford brand-name meds.
- check out the release from IMS Health
- read the article from the Washington Post