Drug sales growth slows in US
Prescription drug sales in the US grew 12% to US$192.2bn in 2002 from $172bn in 2001, according to a report from IMS Health. A slow flu season and the recent conversion of the allergy drug Claritin to otc status has meant that winter drug sales have been a bit sluggish, according to Doug Long, an IMS analyst.
Prescription drug sales in the US grew 12% to US$192.2bn in 2002 from $172bn in 2001, according to a report from IMS Health. A slow flu season and the recent conversion of the allergy drug Claritin to otc status has meant that winter drug sales have been a bit sluggish, according to Doug Long, an IMS analyst.
Sales are likely to see a further deceleration in 2003 and 2004 to 10-11%, but will pick up again thereafter to give an average annual growth rate from 2002 through 2006 of around 12%, the company predicts.
The biggest-selling drug last year was Pfizer's cholesterol-reducer Lipitor, with $6.1bn in US sales. Merck & Co.'s cholesterol-reducer Zocor was second with $4.2bn. Pfizer also had the most prescription drug sales, although Novartis sales grew the fastest among the top 10 drug companies.
Bristol-Myers Squibb Co.'s sales fell 13% - more than any other major US drug manufacturer - the IMS data indicates. A Bristol-Myers spokesman wouldn't comment on specific sales figures but said generic competition to some big-sellers hurt last year's results. He said sales of some other products are going strong.
Merck slipped from third to fourth place among the top drug companies behind Johnson & Johnson. And Eli Lilly & Co. dropped from seventh to 10th place from after sales dropped 10% as a result of sales loss to generics of the antidepressant Prozac.
Retail pharmacies sold 62% of all drugs, but mail-service sales are becoming increasingly important, growing by 21% last year to account for 13% of all prescription-drug sales. Also last year, 51% of prescriptions were filled with generic drugs.