By 2019, pharmaceutical companies face a major loss of $65 billion in
sales due to patent expirations largely from brand name central nervous
system drugs that are opening up to competition from cheaper generic
copies.
A new report
from London-based research and consulting firm GlobalData says a "patent cliff" will hit several drug companies including AstraZeneca andEli Lilly .Otsuka is
poised to be the hardest hit, with its treatment for bipolar disorder
and depression, Abilify, losing patent protection next year.
"Abilify's upcoming U.S. patent expiration in 2015 means the drug will lose a massive $6.2 billion by 2019 as the result of generic competition, making it the biggest victim of the pharmaceutical industry's current patent cliff," said Adam Dion, GlobalData's health care industry analyst in a statement accompanying the report.
The quick evaporation of sales, particularly in the U.S., comes as pharmacy benefit managers and insurance companies more quickly than ever shift the higher costs of brand names to consumers in the form of higher copayments so they will switch to cheaper alternatives.
The health benefit industry's clout was seen clearly when AstraZeneca's biopolar treatment, Seroquel, lost its patent protection and was clobbered by the introduction of generics. The company's central nervous system franchise "has been bleeding sales" ever since, as market share dropped to 3 percent of the market last year from 9 percent in 2010, according to GlobalData.
Read more: Drug Giants Face $65 Billion in Lost Sales as Insurers Attack Patents | Fox Business
A new report
from London-based research and consulting firm GlobalData says a "patent cliff" will hit several drug companies including AstraZeneca andEli Lilly .Otsuka is
poised to be the hardest hit, with its treatment for bipolar disorder
and depression, Abilify, losing patent protection next year."Abilify's upcoming U.S. patent expiration in 2015 means the drug will lose a massive $6.2 billion by 2019 as the result of generic competition, making it the biggest victim of the pharmaceutical industry's current patent cliff," said Adam Dion, GlobalData's health care industry analyst in a statement accompanying the report.
The quick evaporation of sales, particularly in the U.S., comes as pharmacy benefit managers and insurance companies more quickly than ever shift the higher costs of brand names to consumers in the form of higher copayments so they will switch to cheaper alternatives.
The health benefit industry's clout was seen clearly when AstraZeneca's biopolar treatment, Seroquel, lost its patent protection and was clobbered by the introduction of generics. The company's central nervous system franchise "has been bleeding sales" ever since, as market share dropped to 3 percent of the market last year from 9 percent in 2010, according to GlobalData.
Read more: Drug Giants Face $65 Billion in Lost Sales as Insurers Attack Patents | Fox Business
No comments:
Post a Comment