Cheap drugs are coming.According to a report by Datamonitor today, drugs with combined annual sales of $160 billion will come off patent in the next ten years. Total global drug sales are around $500 billion.
"Within the next five years an estimated $80 billion in 2005 product sales will be exposed to generic competition, while a further $77 billion will be subject to generic incursion between 2011 and 2015," Datamonitor pharmaceutical lead analyst Joanna Chertkow said.
That also means a bright future for generic drug makers, such as Israel's Teva Pharmaceutical Industries Ltd and U.S.-based firms Watson Pharmaceuticals Inc. and Barr Pharmaceuticals Inc., Iceland's Actavis, and Indian group's Ranbaxy Laboratories Ltd and Dr. Reddy's Laboratories Ltd.
If you go shopping on the stock market, you don't want to buy big pharma, you want to buy generic pharma.
You heard it here first.
2 comments:
Between bigpharma and oil, we are allowing ourselves to be screwed into the ground. With a return rate for incumbents of about 90 percent, it's no wonder.
I can only hope people will stop voting incumbents back into office. I've heard the excuse that newbies would only be incapable of doing anything. Well right now that is all we have anyway, PROS who are incapable of doing a damned thing right.
Worst congress in history.
Most corrupt.
Most lying.
Most thieving.
WORST CONGRESS EVER!
Generics may be on the way, but not before the brand-name drug industry puts a few roadblocks up in the process -
"Some at the FDA, as well as leaders in the generic drug industry, complain that "citizen petitions" -- requests for agency action that any individual, group or company can file -- are being misused by brand-name drugmakers to stave off generic competition.
The simple act of filing a petition, they say, triggers another round of time-consuming and often redundant reviews of the generics by the FDA, which can take months or years. In the process, consumers continue to pay millions of dollars more for the brand-name drugs.
Statistics collected by the staff of Sen. Debbie Stabenow (D-Mich.), who has introduced legislation with Sen. Trent Lott (R-Miss.) that would rein in industry-filed citizen petitions, show that 20 of the 21 brand-name petitions settled by the FDA since 2003 were ultimately rejected.
"The brand-name drug industry has found a major new loophole," Stabenow said in an interview. "The way things stand now, even if the FDA finds that a petition was frivolous and rejects it, [the drug companies] can get hundreds of millions of dollars of profits from the delay.""
Full story - http://www.corpwatch.org/article.php?id=13827
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