GENERIC SALES MAY JUMP 15% WORLDWIDE IN 2008

Pharmacy Times, Volume 0, 0

According to the latest forecastfrom researchers at IMS Health,sales of generic pharmaceuticalsare on track to rise 14% to 15%next year to a record $70 billionworldwide. Many of the leadingmanufacturers of generic medicineswill continue to make inroadsin emerging markets such as China,Brazil, Mexico, and Turkey. Sincethese countries cannot afford cutting-edge innovative pharmaceuticals,IMS predicts that much of the growth will be inthe demand for cheaper generics.

As the generic-drug industry prepares for a feast nextyear, however, the branded counterparts are expectingfamine. IMS researchers predict that global sales for brandpharmaceuticals will rise only 6% to 7% in 2008, while salesin the United States and Europe will rise just 4% to 5%.