Sobering news led the WSJ this morning. Poor, poor Big Pharma:
Over the next few years, the pharmaceutical business will hit a wall.
Some of the top-selling drugs in industry history will
become history as patent protections expire, allowing generics to rush
in at much-lower prices. Generic competition is expected to wipe $67
billion from top companies’ annual U.S. sales between 2007 and 2012 as
more than three dozen drugs lose patent protection. That is roughly
half of the companies’ combined 2007 U.S. sales.
At the same time, the industry’s science engine has stalled. The
century-old approach of finding chemicals to treat diseases is
producing fewer and fewer drugs. Especially lacking are new
blockbusters to replace old ones like Lipitor, Plavix and Zyprexa.
Or Zyrtec, which I worry will continue to be marketed in a way that I can’t afford it. But maybe I’m just paranoid on account of that’s the way it’s worked in the past.
As the dirge begins for Big Pharma, do not send to ask for whom the bell tolls. One way or another, they’ll figure out a way to make it toll for thee.
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Not to worry. Some lobbyist will get to some of our politicians, and talk them into giving Big Pharma subsidies to support them while they continue doing what they’ve been doing. Never mind that it’s producing fewer drugs. Never mind that there are quite a few ‘orphan’ illnesses out there that need help. Never mind that new approaches to cancer might cause a breakthrough that doesn’t involve poisoning both patient and cancer and see which one dies first. Big Pharma is plenty big enough to take care of itself.