Pricing pressures lower drug sales forecasts, new report finds
In the 10th installment of its World Preview report, EvaluatePharma anticipated global drug sales will reach $1.06 trillion in 2022, down from last year's $1.12 trillion and the first time in the report's history that researchers lowered the long-term projection.
Pricing pressures, such as increased negotiating power from pharmacy benefit managers and uncertainties surrounding the Trump administration's stance on drug costs, were a core reason for the decline. Additionally, drugs falling off patent could lead to the loss of nearly $200 billion of sales, while R&D expenses continuously rise and reach an estimated $5.1 billion per new molecular entity by 2022.
On the bright side, overall pharma and biotech continue to perform well, especially in the areas of orphan drugs and immuno-oncology, two areas of SKC’s specific expertise.
To read the full report please go to http://www.biopharmadive.com/news/evaluatepharma-pricing-report-world-preview/445516/