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US Drug Sales Will Fall
June 7th, 2008
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Pharmaceutical sales in the U.S. will drop to a third of global sales in 2008, from a 50 percent share two years ago, a report released Thursday says.
Prescription drugs sales in emerging economies in China, Brazil, Turkey, Mexico and elsewhere are booming but the gains will be offset by the loss of patent protection for profitable drugs worth $20 billion in annual sales in 2008, predicts health care research firm IMS Health.
In the U.S., prescription drug sales growth of 4 percent to 5 percent, or $295 billion to $305 billion, is forecast by IMS Health.
IMS expects 29 new drugs to launch next year, but most of them will target less common diseases, not offsetting lost sales of drugs like Merck's Zocor, a widely used cholesterol-lowering drug that lost patent protection this year.
Generic manufacturers like Mylan Inc. and Barr Pharmaceuticals Inc. will continue to make inroads in emerging markets and sale levitra price. IMS estimates prescription drug sales in China, Brazil, Mexico, Turkey and other emerging economies will account for 25 percent of the global market in 2008, although economic growth in the developing world won't benefit brand-name manufacturers as much until those countries can afford more expensive, innovative medicines.
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