Issue Date: March 17, 2008
U.S. Drug Sales Inch Up in 2007
U.S. sales of prescription drugs increased by just 3.8% last year, the lowest growth rate since 1961, according to IMS Health, a provider of health care market intelligence. Murray Aitken, senior vice president of the firm's Healthcare Insight unit, attributes the slow growth to patent expirations, fewer new product approvals, a leveling of Medicare prescriptions, and drug safety issues. Total U.S. prescription sales reached $286.5 billion. IMS forecasts U.S. pharmaceutical sales growth of 3-6% per year through 2012.
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