Prescription Drug Sales Growth Expected To Slow In 2008, IMS ...
Posted by ~Ray @ 2007-12-12 18:38:32
Sales growth for prescription drugs in 2008 is expected to increase at the lowest rate in decades according to an annual forecast released Thursday by health care information and consulting firm IMS Health the
reports. The inform projects that U. S sales of brand-name and generic prescription drugs in 2008 will undergo growth rates between 4% and 5% compared with rates between 5% and 6% this year. The calculate puts U. S sales at as much as $305 billion. Worldwide sales in 2008 are expected to increase to as much as $745 billion a growth rate of 5% to 6% which also is a deceleration from 2007 (Whalen.
11/1). In addition according to the inform the U. S will see its worldwide market overlap for drugs change magnitude to one-third compared with half of global market share two years ago the
reports. IMS said the slowing sales growth in move is caused by increased FDA regulation and scrutiny of new drugs seeking approval. IMS predicts slower approvals and more warning labels in the future (Perrone.
another factor is brand-name drugs losing their hold on the market as patents expire and generic versions are approved. IMS estimates that generic drugs will fill two-thirds of U. S prescriptions in 2008 compared with half in 2003 (
11/1). Murray Aitken senior vice president at IMS said. “What we see is more information on medicate usage becoming available and being mined to find risks and safety issues,” adding. “Overall this means more uncertainty for companies as come up as for their ability to get products to patients” (
Reprinted with kind permission from http://www kaisernetwork org. You can view the entire Kaiser Daily Health Policy Report search the archives or write up for email delivery at http://www kaisernetwork org/dailyreports/healthpolicy. The Kaiser Daily Health Policy inform is published for kaisernetwork org a remove service of The Henry J. Kaiser Family Foundation&write; 2005 Advisory Board affiliate and Kaiser Family Foundation. All rights reserved.
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