Drug sales growth for 2009 seen as slow, steady.
Adding to those factors is uncertainty over the impact a lengthy and deepening economic downturn might have as people lose health insurance or stop filling costly prescriptions. "The economy is one of the more prominent wild card factors in the forecast," Diana Conmy, director of Market Insights for IMS, admitted. The U.S. market is still expected to generate 2009 sales of $292 billion to $302 billion with the worsening economy and fewer new product launches having an impact. New product approvals are at historically low levels, IMS said, with only 25 to 30 new chemical entities slated for launch in 2009, including potentially prominent entries in the diabetes and rheumatoid arthritis arenas. But those numbers may be optimistic given recent foot dragging by U.S. regulators, who have been letting action dates for approval decisions pass without rulings and delays of three months or more becoming more common.
The top five European markets--France, Germany, Italy, Spain and Britain--are forecast to grow 3% to 4% next year with sales reaching $162 billion to $172 billion, while the Japanese pharmaceutical market is seen growing 4% to 5% in 2009, reaching $84 billion to $88 billion. Growth at a far higher rate is projected for the emerging markets of China, Brazil, India, South Korea, Mexico, Turkey and Russia. IMS sees combined growth from those nations of 14% to 15% with sales of $105 billion to $115 billion, helped by increased government healthcare spending.
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|Title Annotation:||TOP STORIES|
|Article Type:||Financial report|
|Date:||Nov 3, 2008|
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