Worldwide drug sale forecasts fall as pricing pressures mount

Forecasts for global sales of pharmaceuticals have declined for the first time in a decade as continuing pressure on prices in the key U.S. market has caused analysts to moderate revenue expectations, according to a report on Tuesday.

Evaluate Pharma, which compiles consensus numbers based on analysts’ forecasts, said worldwide drug sales were now expected to hit $1.06 trillion in 2022, down from $1.12 trillion predicted a year ago for the same period.

It is the first time in 10 years that total drug sales have failed to beat the previous year’s forecast level.

“The continued political and public scrutiny over pricing of both the industry’s new and old drugs is not going to go away and we are starting to feel the impact now,” said Antonio Iervolino, Evaluate’s head of forecasting.

He highlighted disappointing sales of some new drugs such as the expensive injectable cholesterol treatments Repatha and Praluent, from Amgen and Sanofi.

Drugmakers are under fire over prices around the world, but the impact is particularly notable in the United States, where a number of companies are now promising moderation after years of price hikes that often ran well above inflation.

Evaluate said Novartis, Pfizer and Roche were all in contention to be the company with the highest worldwide prescription drug sales in 2022, although Novartis seemed to have a slight edge.

(Reporting by Ben Hirschler; editing by Susan Thomas)

Read More at Reuters

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Got 10 Minutes? This Kettlebell Workout Only Has 3 Exercises
Screen kids and teens for obesity, U.S. experts say
How Your Sandwich Changed The World
Why You Should Move Your HIIT Workout to the Pool
Lena Dunham’s Trainer Tracy Anderson Says She Wanted to ‘Feel Better’ and Not Make Her Body ‘Look Different’
Ashley Graham Maintains Her Body Year-Round But Sometimes Still Feels Shy in a Bathing Suit
4 Ideas for Using Herbs You Probably Haven’t Thought Of
Bobbi Brown’s Top 10 Superfoods for Beauty and the Fun Way She Eats Them
5 Father’s Day Gift Ideas for Food-Loving Dads Everywhere
The Making Of Emotions, From Pleasurable Fear To Bittersweet Relief
4 Foolproof Tips to Make Healthy Veggie Chips at Home
A Food-Lover’s Mother’s Day Gift Guide
Here’s Why a Man Died After Swimming With a New Tattoo  
A MRSA Infection Cost Me $300,000—and Nearly Killed Me
Novartis heart drug success opens up new care option
Obamacare replacement bill to take center stage in Senate