Even as we pass through a period of recession there is one speck in between this hullabaloo which still shines brightly-the Pharmaceutical companies. The pharmaceutical industry trends show that this sector is fighting and staying afloat in this recession. As global acquisitions and recent takeovers show, like the takeover of India’s largest pharmaceutical company Ranbaxy; this trend is here to stay at least for a while. According to Ernst & Young, the global pharmaceutical market, is counting on emerging markets to extend the life of mature products as well as to develop new markets for their ethical products. Current global financial conditions and the threat of a broad recession have accelerated the timetable for implementing change, as the industry confronts lower corporate stock prices and an increasingly cost-averse customer. The emergence of a middle class with growing disposable incomes in rapidly expanding countries with large populations, such as Brazil, Russia, India, China, Korea and Mexico, represents tens of millions of new customers who will demand improved healthcare.
Survey findings indicate that, leaders of the largest global pharmaceutical companies recognize the need for transformational change in their organizations, but will need to move swiftly to ensure sustained growth. Big markets like China are leading this resurgence on sustained growth. Leading research and advisory firms focusing on pharmaceutical and healthcare issues, forecasts that the Chinese major depression drug market will triple by 2012, growing from $75 million in 2007 to $226 million in 2012. Selective serotonin reuptake inhibitors (SSRI), the market-leading drug class, will continue to experience strong double-digit growth, contributing to the annual 20 percent growth of the major depression drug market during the forecast period.
