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Friday, July 03, 2009

Update on the Pharma Financial Crisis

"The financial crisis currently spreading around the world has exerted negative impacts on both the pharmaceutical and biotech industries," according to a Life Science leader article (see "The Impact Of The Financial Crisis On The Pharma And Biotech Industries"). "A large number of R&D programs have been either cut or put on the shelf."

The chart below summarizes the number of pharmaceutical and biotech companies that announced restructuring plans between September 2008 and April 2009 (click on chart to for an enlarged view):

With regard to advertising, respondents to the Pharma Marketing News "Future of DTC Advertising" survey (here) are still pessimistic about 2009 (see chart below). While 52% of respondents who took the survey in 2008 predicted a decrease in spending, 62% who took the survey in 2009 predicted a decrease (vs. 28% and 23%, respectively, who believe spending will increase in 2009).
(Click on chart for an enlarged view.)

2 comments:

  1. Hopefully today is the most important day of the United States, reconsider and remember that medicine in the country, is one of the media that needs the most attention because many people that I trust Obama to promise to improve and reform the statute in medicine and so many people will benefit greatly, so hopefully that is well and we can say with great force. ! Happy Independence Day!

    ReplyDelete
  2. Carmen1:42 PM

    Pharma spends (and makes) too much anyway. It's good that they are thinking of slimming down their DTC budgets. Maybe they will have to think of cutting their greed as well.

    ReplyDelete

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