Thursday, October 30, 2008

The Poor Purveyors of Poison

Also see: Poor Little Big Pharma

"Economy to reduce drug companies' sales $10b" by Bloomberg News | October 30, 2008

NEW YORK - The economic crisis may cost drug makers as much as $10 billion in revenue next year as sales of prescription drugs in the United States are expected to increase at their slowest rate on record.

The worst financial slowdown since the Great Depression is expected to cause more patients to switch to generic drugs, split pills, and make fewer trips to the doctor, said IMS Health Inc. in a report yesterday. The economic crisis is the latest blow for drug makers.


The recent economic slowdown is expected to hit drug makers harder than previous recessions because the amount of money US patients have to pay out of pocket has increased as employers try to lower their health bills, said Diana Conmy, corporate director for market insights at IMS.

"In the current environment, there is a higher level of cost shifting to patients than we've seen in the past," Conmy said. "When you look at the levels of copays and premiums and general coverage, there is more cost shifting to the patients, there are more difficult decisions to make when it comes to healthcare." --more--"

Oh, it is the PATIENT that is GETTING SCREWED AGAIN in AmeriKa's health system.

And the CORPORATE PAPER is worried about the DRUG COMPANIES!!!!