Article preview from "IN VIVO" December 23, 2008
Pharma has weathered its share of economic downturns, but the data shows that the industry could be in for a tough winter. Prolonged cutbacks by consumers failing to refill prescriptions in tough economic times could become yet another obstacle for drug manufacturers already facing plenty of challenges in the coming year in the form of patent expirations, lackluster pipelines and stricter regulatory oversight. Find out more...
Article preview from "IN VIVO" December 23, 2008
Economic Winter Weather : Winter Weather Advisory Ahead
Pharma has weathered its share of economic downturns, but the data shows that the industry could be in for a tough winter. Prolonged cutbacks by consumers failing to refill prescriptions in tough economic times could become yet another obstacle for drug manufacturers already facing plenty of challenges in the coming year in the form of patent expirations, lackluster pipelines and stricter regulatory oversight.
Pharma has weathered its share of economic downturns, and the industry is widely regarded as one investors bunker down with during a recession –patients always need medicines, the theory goes. But this time around, the familiar reassurances sound a little less comforting.
That's because more data is emerging showing that patients are cutting back on drug spending, choosing not to refill prescriptions, skipping doses or cutting pills to make doses last longer.
Prolonged cutbacks by consumers could become yet another obstacle for drug manufacturers already facing plenty of challenges in the coming year in the form of patent expirations, lackluster pipelines and stricter regulatory oversight. Drug makers remained cautiously optimistic regarding fallout from the economic downturn during third quarter sales and earnings reporting. However, the positive spin may be short-lived if the economy continues to falter.
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Companies Mentioned
CVS Caremark Corp.
IMS Health Inc.
Johnson & Johnson
Merck KGAA
Pfizer Inc.
Sanofi-Aventis
Sepracor Inc.
Walgreen Co.
