LONDON -A group of seven emerging markets will account for just over half of pharmaceutical companies' revenue growth in 2009, as Western drug makers to look to new territories to offset the loss of patents and pricing pressures at home, according to research published Wednesday by market research firm IMS Health Inc. (RX).
IMS also forecast a 1% to 2% decline in U.S. drug sales in 2009, as the industry's troubles are worsened by recession weighing on patients' ability to pay for healthcare, IMS Senior Vice President Murray Aitken told reporters.
IMS Health said the seven "pharmerging" markets of Brazil, Russia, India, China, South Korea, Mexico and Turkey will account for 51% of pharmaceutical companies' global sales growth by the end of the year, compared with just 16% in 2006.
Some Western pharmaceutical companies have made significant investments in emerging markets during the past 12 months. France's Sanofi-Aventis S.A. (SNY) bought drug businesses in Brazil, Mexico and eastern Europe, while GlaxoSmithKline PLC (GSK.LN) bought a stake in South Africa's Aspen Pharmacare Holdings Ltd. (APN.JO) and bought units in Pakistan and Egypt from Bristol-Myers Squibb Co. (BMY).
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