Thursday, March 19, 2009
Sales growth of prescription drugs in the U.S. slowed for the second straight year, with the economic downturn playing a key role, according to IMS Health Inc.
Market research firm IMS cites lower demand for less-expensive generic drugs, lagging new product sales, and reduced consumer demand. Sales rose just 1.3% to $291 billion in 2008. That about matches IMS' prior outlook of 1% to 2% growth.
In 2007, U.S. sales rose 3.8% to $286.5 billion, while they gained 8% in 2006.
Anti-psychotic drugs were the lead sales drivers, followed by cholesterol drugs and treatments for heartburn and related conditions.