IMS Health predicts global pharma market to grow 5%-6% in 2008
NORWALK, Conn. According to IMS Health’s 2008 Global Market and Therapy Forecast, the global pharmaceutical market is expected to grow at a 5 percent to 6 percent pace next year, compared with 6 percent to 7 percent in 2007.
IMS also expects drug treatment costs to decline in several areas that include lipid regulators, calcium channel blockers, selective serotonin reuptake inhibitors, osteoporosis therapies and proton pump inhibitors, because of generic introductions.
“In several respects, 2008 marks an important inflection point for the global pharmaceutical market,” said Murray Aitken, senior vice president, Healthcare Insight, IMS. “For the first time, the seven largest markets will contribute just half of overall pharmaceutical market growth, while seven emerging markets will contribute nearly 25 percent of growth worldwide. And, as the impact of established pharmaceuticals losing patent protection accelerates, we will see a decline for the first time in the size of the $370 billion to 380 billion audited market for primary care-driven drugs. In the coming year, biopharmaceutical and generics companies will more aggressively adjust their business models to manage through these inflections, capturing new opportunities in this changing market environment.”
Haggerty appointed Mylan senior VP and global general counsel
PITTSBURGH, Pa. Mylan has announced that Joseph Haggerty has been appointed as senior vice president and global general counsel.
Haggerty will manage and oversee all legal issues and the provision of legal services, counsel and advice globally to all members of Mylan’s senior management, as global general counsel.
Haggerty joins Mylan from Sanofi-Aventis, where he served as vice president, general counsel, and corporate secretary.
“I am thrilled to be joining Mylan at this exciting time in the company’s history,” Haggerty said. “I look forward to joining the already impressive global management team and supporting them and their operations with my counsel as Mylan becomes one of the leading quality generic and specialty pharmaceutical companies in the world.”
Depomed and King terminate Glumetza agreement
MENLO PARK, Calif. and BRISTOL, Tenn. Depomed and King Pharmaceuticals have terminated their promotional agreement for Glumetza, a drug used to treat Type 2 diabetes.
Under the agreement, King has paid Depomed $30 million in termination and other fees. King will fulfill its promotion obligations through the end of 2007 and Depomed will not pay a promotion fee to King for the quarter ending on Dec. 31.
Carl A. Pelzel, president and chief executive officer of Depomed said that, “Our joint efforts in launching Glumetza have demonstrated the product’s value to patients and its commercial potential. Discussions with potential new marketing partners for Glumetza are already underway. We are confident that we can identify a partner that will assist us in continuing to drive growth in the primary care, endocrinology and other key healthcare markets. In the meantime, a portion of the proceeds from this termination agreement will be earmarked for the continued marketing and promotion of Glumetza.”