Prescription Drug Sales Growth Slows To Lowest Rate Since 1961

Sales of U.S. prescription drugs grow 3.8% to $286.5 billion surrounded by 2007, the lowest stock up since a 3.3% come up in 1961, according to the annual U.S. Pharmaceutical Market Performance Review released Wednesday beside IMS Health, the AP/Houston Chronicle reports.

The gossip found that the slower gap out rate possible be in the red in part of the pack to the increasing popularity and availability of less important amount dear generic version of brand-name medication that nowhere to be found open market exclusivity. According to the report, the hardback of generic drugs grew by 10% by means of brand-name managing with $17 billion in municipal sale lost exclusivity. Generic drugs made exciting greater than 67% of all prescription pills sales in 2007. IMS also cite a decline in the digit of untried certified medications, mushrooming concern going on for drug safekeeping and a stained rise in the figure of customer advisories and market subtraction of medications as doesn`t matter what reason in support of the plodding sales growth.

The report estimate that FDA issue 68 through preventive in 2007, up from 58 in 2006 and 21 in 2003. Safety issues contribute to "significantly lower-than-expected sales" for prescription drugs that made up about 10% of the unadulterated prescription drug market, the report said.

Prescription drug sales grew by 8% in 2006 when the Medicare prescription drug purpose was introduce. The drug benefit accounted for about 19% of prescription drug sales in 2007, a unimportant increase ended 2006, which be "reflective of a maturing program," the IMS report said, adding in solidarity that 65% of advanced ages 65 and elder be presently gummy underneath the program.

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