Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Seeker of Truth who wrote (66529)	7/23/2005 12:07:26 PM
From: elmatador	Read Replies (1) of 74559

Cost? "Novartis is spending around 33% of sales on promotion, compared with about 19% on R&D" "many of the basic discoveries that drug companies develop and profit from came from universities and government institutes in the first place." “The industry was living a little fat and happy,” says Sidney Taurel, Eli Lilly's boss. "Pfizer, the world's biggest drug firm, is famous for its marketing prowess (it makes Viagra), but in April it announced a $4 billion cost-cutting programme, some of which will fall on its 38,000-strong international sales and marketing machine. In America, the firm is cutting the number of reps detailing a product to the same doctor." Looks like deflation to Elmat. "the essential difficulty of bringing market forces into medicine. Health care does not work like a normal market, although there are ways of making it more market-like, such as shifting more purchasing power to patients and providing them with more information." "a third of the drugs launched on the market in the past few years were first or second “in class”. The rest were “me-too” medicines, tackling the same problem in much the same way as existing drugs."

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