New York Times Article Details Pharma's Woes
Posted on Mon, Mar 07, 2011 @ 01:45 PM
In a story that echoes many of the issues we've been discussing on this blog for the past two years, the New York Times featured an article in the Sunday issue of March 6, 2011 entitled "Drug Firms Face Billions in Losses in ’11 as Patents End."
The article addresses critical topics for Big Pharma, including the lack of ROI from indusry megamergers, further declines in R&D productivity despite increased spending, and fewer FDA approvals on average over the past 15 years.
This is a very difficult time for the pharmaceutial industry overall. But difficult times often uncover new opportunities. The continuing evolution of personalized medicine points toward growth in the diagnostics industry. There is great innovation and increasing need for medical devices as global populations continue to age and remain active longer. And smaller, nimbler specialty pharmaceutical and biotechnology companies will continue to develop innovative products.
There is no doubt that the life sciences market is changing. However in times of great change, new and exciting areas often emerge.
--David Avitabile