In the last week as the economy has fluctuated and key opinion leaders speculated over whether or not we have entered a recession, many sources reported on the effects of the economy on the pharmaceutical sales industry. CNN reports lowest growth rate for pharmaceutical industry since 1961. Yet, the biotech and specialty therapies are still growing. Pharmlot gave the same news and graphs that demonstrate the growth by drugs. IMS's Murray Aitken, a senior VP sheds light on some of the reasons for the slow down, "The US pharmaceutical market has entered a new era -- one characterized by more modest growth due to the continuing impact of new generics products, fewer and more narrowly indicated novel medications, and closer scrutiny of safety issues." In the Wall Street Journal Health Blog, they commented on the reduction of sales forces for a multitude of reasons. From the backlash of inundating the doctor with reps, smaller pods are proving more effective. As discussed with the last newsletter, new models for selling are going into place.
What changes do you see?
How will this change the future of pharma?
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