Monday, November 05, 2007
Tough times for pill people?
…According to a piece on Bloomberg by Shannon Pettypiece, in 2008 US pharmco sales will increase at the slowest rate in 44 years.
…This means sales will only move up 4-5%, amounting to a paltry $305 billion next year. This according to health research firm IMS Health.
…Part of this decline will come from popular drugs like Fosamax and Risperdal coming off patent, meaning lower-cost generics will be offered.
…Some docs are also turning down the yummy-smelling free lunches the drug detailers bring into almost every office HA visits, and unfortunately there are several.
…Sales also will be slowed by increased FDA scrutiny and warnings about new drugs.
…Standard & Poors pharmco stock sales went up less than 4% this year, compared with 18% a year earlier.
…Companies are now plying their wares overseas, having saturated us.
…HA would like to think American sick people and worried well people are becoming a little more sensible about taking a handful of pills everday.
…Apparently, those almost daily stories about some drugs causing more heart attacks or cancer in addition to their beneficial results are sinking in.
…Maybe too many conditions have been made to seem like a disease needing curing—like twitchy legs and menopause.
…And maybe these drugs are just too damn expensive. HA knows it costs a lot to find some leaf in the rain forest and make it into a medicine that millions can take.
…But could the $305 billion hold these companies for awhile?
…I suppose if you have cancer and need a $40,000 drug, your POV would be drastically different. If you are in this position, speak up now.