The Swiss pharmaceutical company Novartis is set to win the place of the world's largest company in the sector within six years, predicts a new report by 'Evaluate Pharma' which analyzes the period between 2012 and 2018.
Based on forecasts from 500 pharmaceutical and biotech companies, the prescription drug market will grow by 3.1% annually between 2011 and 2018 to reach $885 billion. According to analysts, more than 290 billion dollars in sales of 'brand names' will however be at risk due to patent expirations that will occur in this period.
As for the race to become the first ever 'Big Pharma', in terms of total sales of prescription products Novartis will emerge as the clear leader in 2018, with revenue forecasted to reach $51.3 billion by that year. That is 3 billion more than its closest competitors, Pfizer and Sanofi.
The researchers also expect Gilead Sciences to earn the most spots within the top 20 of industry companies, clinching seven more spots and climbing to number 15 with revenues of $15.1 billion in 2018. The report said finally that the anti-diabetes brand Januvia (sitagliptin) and Janumet (sitagliptin/ metformin) will be the best-selling brand in the world within six years, reaching almost 10 billion dollars.
June 18, 2012 – Barbara Di Chiara – PharmaKronos
