Prescription Drug Sales Growth Expected To Slow In 2008
Salesgrowth for prescription drugs in 2008 is expected to increase at the lowestrate in decades, according to an annual forecast released Thursday by healthcare information and consulting firm IMS Health, the Wall Street Journal reports. The report projects that
The estimate puts
IMS said the slowing sales growth in part is caused by increased FDAregulation and scrutiny of new drugs seeking approval. IMS predicts slowerapprovals and more warning labels in the future (Perrone, AP/Washington Post, 11/1). According tothe Journal, another factoris brand-name drugs losing theirhold on the market as patents expire and generic versions are approved. IMSestimates that generic drugs will fill two-thirds of
Murray Aitken, senior vice president at IMS, said, "What we see is moreinformation on drug usage becoming available and being mined to find risks andsafety issues," adding, "Overall, this means more uncertainty forcompanies, as well as for their ability to get products to patients" (AP/Washington Post, 11/1).
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