Efficiency Measures Help Drug Industry Performance | Chemical & Engineering News
Volume 90 Issue 27 | p. 12 | Concentrates
Issue Date: July 2, 2012

Efficiency Measures Help Drug Industry Performance

Department: Business
Keywords: pharmaceuticals, patents, drug sales

The global pharmaceutical industry has made significant headway over the past year to improve its performance through efficiency measures, according to an annual report published last week by business information firm Thomson Reuters’ CMR division. The industry, however, remains heavily dependent on older drugs that face short-term patent expiration, according to the 2012 CMR International Pharmaceutical R&D Factbook. The report also says drug sales reached an all-time high of approximately $880 billion in 2011, but only 7% of sales were attributable to products launched within the past five years. However, more new drugs are entering the market, with 31 launches in 2011 compared with 21 in 2010, a 10-year high. Increased success in late-stage trials combined with a decline in the number of compounds entering early-stage development “suggests that the change in industry strategy towards quality over a ‘shot on goal approach’ is having a positive impact,” according to the CMR report.

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