how much is the pharmaceutical industry worth 2020
Drug development is a long and expensive process. Please do your own research). Current and ongoing changes in political, economic, social, technological, legal and environmental factors are influencing growth in the healthcare market, where drugs play an important part. This drug is used for the treatment of autoimmune diseases, rheumatoid arthritis, Crohn’s disease, and spondylitis. Prices range from $3 a dose to $37. Well, it is. Pharmaceutical export from India stood at US$17.27 billion in 2017–18, and is expected to grow by 30 per cent to reach US$20 billion by the year 2020.And India Share in This 40% The 10 countries below imported 56.5% of that total: However, once the drug patent expires, competitors are allowed to manufacture and sell the drug. A. If you are bullish about its prospects, this article may help kickstart your research into pharmaceutical stocks. According to. The global pharmaceutical industry was valued at USD$1.25T in 2019 and is forecasted to grow to about $1.5T in 2021. India’s pharma exports reported an 11% growth during the first quarter of the fiscal ending June 2019 at $5 billion, he said, adding that during July alone the Indian pharma exports saw a 21.7% growth at $1.72 billion. You may want to note 3 up and coming pharmaceutical trends: I’ve also listed the top 10 pharmaceutical companies by market cap, 3 ETFs and 3 SGX-listed stocks in this article. We have seen (and waited in anticipation) as companies raced to develop and test viable Covid-19 vaccines. If you live for the drama, you can read about the CRISPR patent wars here, here and here. Pharmaceutical companies have access to a wealth of data. is cheaper and more efficient, automation won’t decrease the number of jobs in this sector. 30+ Key Bipolar Disorder Statistics to Help Raise Awareness, 35 Mind-Blowing Smoking Statistics and Facts for 2021, 35 Fascinating HGH Statistics and Facts for Supreme Growth, 32 Raging Testosterone Statistics for an Enviable Performance, 28 Energy Infusing L-Carnitine Statistics & Facts, 37 Refreshing Beverage Industry Statistics And Facts, 27+ Whole Grain Statistics for Healthier Food Choices, 33 Savory Spice Statistics for Ardent Foodies, 46 Eye-Opening Herbal Supplements Statistics and Facts, Ten of the Most Interesting Facts About Pharmacy, Global Pharmacy: Interesting Facts and Stats, Pharmaceutical Research and Development Statistics, Facts and Statistics About Pharmaceutical Drugs, Interesting Pharmacy Facts: Working in a Pharmacy, Quick Facts on Pharmaceuticals and Supplements. Unlike pharmacists, pharmacy technicians are more focused on administrative tasks and communication with patients. GlaxoSmithKline net worth … The pharmaceutical industry is one of the biggest and most powerful in the world, generating a staggering amount in revenue and sales. There were 1,732,400 sales reps in 2018 alone. SRS Account Singapore Guide 2021: How to Start, Schemes & Penalty, 5 Key Lessons to Take Away from the 2020 Tech Stock Boom, Start 2021 with DBS Treasures and gain full control of your wealth, BigFatPurse Pte Ltd71 Ayer Rajah Crescent #03-06Singapore 139951Tel: 65-9812 0411Email: firstname.lastname@example.org, Intelligent Investors Immersive Early Retirement Masterclass SaaS Hypergrowth Investing China Stocks and Options Course 8-Figure Trading Blueprint Cryptocurrency Property Investing Masterclass All Courses, Blog postCase StudiesVideosInterviews#AskDrWealth. But how much do we really know about pharma companies? It is often difficult for smaller (or even new) players to encroach on existing market shares of known drugs. In the USA, Pfizer was the first business to sell chemicals, while Colonel Eli Lilly was probably the biggest contributor to the development of the industry as he was the first to focus on research rather than just drug manufacturing. Merck was the first company to start combining the concepts of production of goods and scientific revolution for the benefit of human health around 1827. If you’re an ETF investor, you’ll probably not have to worry about this as much. When she’s not working, she’s known to binge-watch a TV show or two or hit the gym, which doesn’t happen that often. However, the. One of the founding fathers, Benjamin Franklin and queen of crime novels Agatha Christie worked as pharmacists. Such regulations may affect the cost of drug manufacturing in the future. Your email address will not be published. In some businesses, they can cover up to 90% of the pharmacy scripts. As mentioned above, Covid-19 has been the curveball of 2020. General Video Games Industry Statistics. “Each of Doudna, Charpentier, Zhang and their respective backing institutions have formed spin out companies to commercialise the CRISPR-Cas system, partnering variously with big pharma, venture capitalists and fellow disruptive biotech start-ups in a complex series of exclusive licensing deals, joint ventures and strategic collaborations. The global sales stood at $2.06 billion, $1.6 billion of which, the pharmaceuticals statistics indicate, came from emerging markets. All drugs are classified as substances for the diagnosis, treatment, and prevention of diseases. The average annual salary for pharmacists in Hawaii is $148,006, the highest of all US states. Pharmacies are convenient, as they work extended hours, weekends, and holidays as well, not to mention that the majority of Americans live just five miles away from the nearest pharmacy. Since its ‘discovery’ in 2012, scientists have found countless uses for CRISPR in the development of antibiotics and antivirals, cancer treatment and more. There are two main drug distribution channels – prescription and over the counter (OTC). The costs of bringing a new drug to market may be lower than has been previously claimed by the pharmaceutical industry, according to a study published in the journal JAMA. The pharmaceutical industry is one of the biggest and most powerful in the world, generating a staggering amount in revenue and sales. When you add the cost of post-approval research and development of around $312 million, total expenditure on new drug development comes up to about $3 billion. Sales of drugs in the US made up 47% of the global market for pharmaceuticals. Data privacy has been a major bane for genetic testing. The use of these tool could lead to breakthrough treatments as well as novel processes in the pharmaceutical industry. This is slightly less than the previous year when the. and diabetes medication generated revenues of $79 billion and $40 billion, respectively. While the cancer medication sales are projected to reach $263 billion by 2025, it’s immunosuppressants that will experience the most significant growth rate, the pharma industry statistics suggest. With almost $19.9 billion in 2018, Humira’s net sales increased by 7% across the globe. Such races to develop, manufacture and deliver pharmaceutical drugs takes place on a regular basis. Does Big Pharma put most of its resources into developing and manufacturing drugs that will protect humanity from dangerous diseases? Prescription drugs are sold through doctors who’ll prescribe them to patients, while OTC drugs do not require a prescription, i.e those that we can buy directly from the pharmacy or even 7-11. This is nearly double the size of the market in 2014 ($32.2 billion), according to a survey from Zion Market Research. Hopefully you’ll find some investing ideas to start your stock research in the pharmaceutical industry. Global pharma spent $179 billion on research and development in 2018, statistics for the pharmaceutical industry reveal. It’s incredible how they have managed to stay among the top players in the pharmaceutical industry for so long. Companies that spend this amount, or close to it, have developed no more than six new drugs in an entire decade. Your email address will not be published. It is currently in a combined Phase1/2 trial. Alvin wrote about ARK Invest’s ETFs previously. The Future of the Gaming Industry for 2021 and Beyond. The majority of this amount, or $20.3 billion, went towards marketing to physicians, while $6 billion was spent on TV commercials and magazine ads. That said, new drug sales are only one source of revenue for pharmaceutical companies. may use ingredients in a way other than what is written on the label. show that some of them have reported profit margins of up to 40%. From lab to market, it can take about 10 years and at least US$350 million. (Pharmaceutical Commerce, Health Affairs). Previously, it would cost anywhere from $5,000 for a full genome sequencing, reducing potential access to such medical therapies. While the cancer medication sales are projected to reach $263 billion by 2025, it’s, that will experience the most significant growth rate, the. Within gene therapy, there are 2 main niches: In 2003, the full DNA sequence of the human genome was determined through the efforts of people behind the Human Genome Project. In simple terms, if we can identify genes that cause certain diseases, we can then correct or replace the gene to prevent them. 15,000 crore (US$ 2.04 billion). Vertex’s triple combination of VX-445 (elexacaftor), tezacaftor, and ivacaftor awaiting global regulatory approval is one of the most expensive projects in the industry’s pipeline with a net present value of $20 billion. Pharmacy technicians are also expected to take on more responsibilities in pharmacies in the future. GDP growth of over 6% in China and India 3. The pandemic has forced the pharmaceutical industry to evolve quickly in the past few months, and this shift has caught the attention of investors like Buffett (Berkshire Hathaway bought $5.7B of shares in four pharma companies). Dec 03, 2020 (Baystreet.ca via COMTEX) -- 2021 could be a big year for this soon-to-be $16-trillion biotech industry. already chope $175M worth of their vaccine. Global pharma spent $179 billion on research and development in 2018. reveal. Since then, scientists have been working to understand how each gene affects us and hopefully to determine which gene (and the mutation of which) is responsible for specific diseases. Although Big Pharma is not a concrete definition, with companies that fall under this category, everything is bigger. The pharmaceutical industry is worth about $1,204.8 Billion. and stats might be a bitter pill to swallow, but at least they will give you a clearer picture of what the industry is all about. Big pharmaceutical companies spend a small fortune on R&D. When it comes to the duties of a. show these tasks are ranging from collecting information about patients and double-checking the work of other technicians to becoming more involved in the preparation of medication. Not only did the US spend $485 billion on pharmaceuticals in 2018, but pharmaceutical expenditure is also projected to go as high as $655 billion by 2023. The patent for use of the technology is likely to be split between three main groups. Humira is AbbVie’s best-selling product, accounting for 61% of the company’s net revenue in 2018. This drug is used for the treatment of autoimmune diseases, The immuno-oncology drug Keytruda is expected to be the world’s best-selling drug according to the. How much the pharmaceutical industry is worth? Drugs are currently being developed for the treatment of cancer, Alzheimer’s disease, diabetes, and heart disease. Since the outbreak, retail of over-the-counter drugs spiked before lockdowns in March 2020 as consumers stockpiled these drugs. and projections for 2023, followed by Bristol-Myers Squibb’ Eliquis, which is an oral anticoagulant. With the pharma industry worth $1.2 trillion in 2018, IQVIA predicts that it will be worth over $1.5 trillion by 2023. Although its best-selling products include Lyrica (an anticonvulsant) and Ibrance (used in the treatment of breast cancer), Pfizer is probably best known for developing the erectile dysfunction drug Viagra. The demand for pharmacy technicians will go up by 7%. Its portfolio covers many therapy areas, from immunology and rare diseases to oncology and neuroscience. ASSESSMENT. Unlike pharmacists, pharmacy technicians are more focused on administrative tasks and communication with patients. It is based on serious research and analysis by economists, and provides a perspective within which the However, the spending jumped up by almost $6.5 billion due to an increase in the price of the antidiabetic drugs. Some of these pharma facts and stats might be a bitter pill to swallow, but at least they will give you a clearer picture of what the industry is all about. Supplements, on the other hand, are not regulated by the FDA and are treated as food. Its portfolio covers many therapy areas, from immunology and rare diseases to oncology and neuroscience. That said, global healthcare spending is likely to remain stable. In other words, supplement companies don’t have to deal with all the pharmaceutical issues companies go through to get a drug approved for safety and effectiveness. companies reveal that things haven’t changed much since the late 19th century. The FDA approved 48 new drugs in 2019. Although there is widespread agreement about the important role the pharmaceutical industry plays in the U K economy, there is no easily available source presenting the chief figures in a clear and easily interpretable way. The sales of this orphan drug treatment are estimated to reach an incredible $4.27 billion in 2024. In the traditional space of biologics we will continue to see the democratization of monoclonal antibodies (mAbs). reveal that Big Pharma has been slapped with the highest penalties in the healthcare industry. All drugs are classified as substances for the diagnosis, treatment, and prevention of diseases. Medical equipment, masks, tests and protection are also A new generation of … Clinical trials, delivery of medicines, etc). Although pharmacists are very well-paid, this is a job that comes with a lot of responsibilities and a less-than-secure future. There are over 7,000 drugs in development in the world. From April 2020 to September 2020, health insurance became the most valuable segment for non-life insurers in terms of premiums collected, leapfrogging in motor insurance. This roughly translates to 17% of the total revenue, while some pharma companies spend up to 20% of their revenue on R&D. They also make fewer mistakes than people. 2. Although its best-selling products include. Things might be different this year, though. Else, you can start here: Healthcare stocks listed on SGX. Taking the number one spot is the 2012 GlaxoSmithKline settlement when the company paid a $3 billion fine for knowingly promoting some of its antidepressants to minors. As of 7 Dec, Pfizer and BioNTech’s vaccine are being distributed to the UK and will be rolled out within the week with Queen Elizabeth being one of the first few to be vaccinated. However, the cost of gene sequencing has dropped significantly over the years: This means that gene therapy will gradually become more accessible to the masses. There were 1,732,400 sales reps in 2018 alone. The field is still pretty much in its infancy. 29 Jun 2018 Posted in News By Press Office Data published today by the ABPI shows that the pharmaceutical industry continues to invest significantly in UK research and development despite the future uncertainty of Brexit – working closely with healthcare professionals and organisations to … This will affect how drugs are being marketed, prescribed and distributed both in the short and long term. Now, they represent 60 percent and will decline over time. The pharmaceutical industry employed 420,400 pharmacy technicians in 2018, a number expected to increase to 451,900 by 2028. Shanghai Pharmaceuticals Holding (SEHK:2607), Public release of genetic sequence by Chinese scientists, The coronavirus is a virus that we have dealt with previously (SARS), Improvements in vaccine development approaches, Invesco Dynamic Pharmaceuticals ETF (PJP). It may be prudent to approach all forecasts with a wider range of variance. Pharmaceutical companies are racing for approval to release their vaccines. Traditionally, clinical trials take an average of 6 years. As efforts shift towards the fight against Covid-19, less attention and urgency is left for the development of non-Covid related drugs. Pharmaceutical companies, though, spend a significant portion of their revenue on research, development, and regulatory approval, all the while having a 12% chance of their drugs making it through the various phases of clinical trials and getting approved for marketing. Even though this cholesterol and heart disease medication decreased in popularity after its patent expired in 2011, Lipitor still brings a nice chunk of the profit to Pfizer. Queen Elizabeth being one of the first few to be vaccinated, 50 million doses of the vaccine by the end of the year, get the vaccine approved for distribution in Singapore. The number of prescriptions for diabetes medications stayed the same in 2017 and 2018. Another pharmacy-inspired drink is Dr.Pepper. , emerging markets accounted for 21%, and Europe made up 20% of the worldwide market. The. This is slightly less than the previous year when the pharmaceutical industry statistics revealed an all-time high of 59 new drugs. Its price tag is $600 for a series of six treatments for patients who live in developing countries where Gilead, to its credit, allows a generic version to be sold. Cancer medicine sales across the world reached $100 billion in 2018, while. Although several techniques have been explored over the years, none allowed easy and accurate gene editing and inaccuracies could lead to devastating consequences. Sales of drugs in the US made up 47% of the global market for pharmaceuticals. Although the situation in Singapore has more or less stabilised, the world at large is still struggling to manage the pandemic outbreak. Major concerns include discrimination as well as inflated premiums from insurance companies based on personal gene data. Believes that personal finance should be simple. show that this industry has no intention of slowing down even in the face of stricter government controls and price hikes. According to the pharmaceutical industry statistics, in 2018, emerging markets accounted for 21%, and Europe made up 20% of the worldwide market. Don’t feel too bad for Big Pharma, though. This market is expected to retain its position through to 2023 when it should make up 24.7% of the global market. Here’s a little bit more of the pharmacy trivia. If you’re interested, here’s a good read on “how much your DNA is worth“. Ljubica is a writer and researcher who enjoys spending most of her time between the pages of her favorite books or immersed in her writing. And as people age and new outbreaks and diseases emerge, the chances are that this trillion-dollar market will only get bigger. Not exactly a pharmaceutical company, however the results of its diagnosis would then be used to prescribe suitable medicine for individuals. Their vaccine has a longer shelf life and can be stored in standard home or medical refrigerators (2 – 8°C). No, it’s not because of the sun and the beaches. Fraud is more common than you think. This difference was statistically significant, even with controls, although earnings seemed to be declining over time. It managed to blindside even the smartest in the field, and only made headlines after it grew to a valuation of $9B despite being unable to show proof of its claims. US net revenue is expected to have risen 1.3% during 2018, and at a 0-3% rate over the next five years (see figure). Interactive chart of historical net worth (market cap) for GlaxoSmithKline (GSK) over the last 10 years. In comparison, Apple — known for its innovative practices — spends only 3% of its income on research and development. The purpose of this paper is to do precisely that. The following factors are all boosting healthcare market growth: 1. Reduced taxes and lowered drug prices in the USA 2. Think Panadol, the trade name for paracetamol currently owned by GlaxoSmithKline (GSK). As such, they are tested by the FDA. Also, the pharmaceutical industry is responsible for about 65% of the FDA’s budget for overseeing human drugs. Pfizer is the world’s leading pharmaceutical company. With potentially immense financial rewards in the horizon, it’s little wonder why so many pharmaceutical companies are joining in the race for a Covid-19 vaccine. With almost $19.9 billion in 2018, Humira’s net sales increased by 7% across the globe. A drug patent can last for about 20 years, of which the company is guaranteed five years of patent exclusivity. Lipitor generated a staggering $94.67 billion in sales from 1992–2017. revealed an all-time high of 59 new drugs. Their business is way more complex involving M&A, developing drug pipelines, sales of generic drugs, etc. round 28.3% of adults bought shots at a pharmacy or a drug store. The average net profit margin for this industry is between 12.5–14%, although the. A pharmaceutical sales rep — according to the Bureau of Labor Statistics — should have previous sales experience to be able to make career advancements. How Much Is the Gaming Industry Worth 2020 Statistics. The US is the biggest pharmaceutical market in the world. $26.9 billion on the marketing of prescription drugs in 2016. Then, Covid-19 happened and threw us a curveball that will likely impact all existing forecasts. If you think this is a colossal sum, you will be shocked to hear that the market is expected to reach $1.5 trillion by 2023, at a growth rate of 4–5%. How much a company is worth is typically represented by its market capitalization, or the current stock price multiplied by the number of shares outstanding. Pharmaceutical companies spent an astonishing $26.9 billion on the marketing of prescription drugs in 2016. The global pharmaceutical industry was valued at USD$1.25T in 2019 and is forecasted to grow to about $1.5T in 2021. Within the pharmaceutical industry, the pandemic has thrown off all previous outlook and trends. Save my name, email, and website in this browser for the next time I comment. India exported $11.7 billion worth of pharmaceuticals in 2014. No regulation means that supplement companies may use ingredients in a way other than what is written on the label. Ledley et al 1 showed that from 2000 to 2018, the median net income margin in the pharmaceutical industry was 13.8% annually, compared with 7.7% in the S&P 500 sample. However, this is 50% lesser than their previous expectation. This paper offers a comprehensive overview of the potential short and long term impacts of Covid-19 in the pharmaceutical industry. In September 2020, the government announced production linked incentive (PLI) scheme for the pharmaceutical industry worth Rs. Drugs are currently being developed for the treatment of cancer, Alzheimer’s disease, The FDA approved 48 new drugs in 2019. Pharmacies are convenient, as they work extended hours, weekends, and holidays as well, not to mention that the majority of Americans live just five miles away from the nearest pharmacy. According to consultancy firm Mckinsey & Company, the Indian pharmaceutical industry has been showing a growth rate of over 12% since 2005. Lipitor is the best-selling drug in history. Furthermore, 22 of the FDA-approved drug treatments in 2019 were orphan products, i.e., intended for the treatment and prevention of rare diseases. Drugs deemed to have adverse effects are at risk of being pulled off the markets around the world as regulators are collaborating more closely. On the flip side, patents could block access of the technology to small private firms or individual researchers, reducing potential innovations in the short term. China and India are major suppliers of Active Pharmaceutical Ingredients (APIs) for the manufacturing of drugs. According to the. The majority of this amount, or $20.3 billion, went towards marketing to physicians, while $6 billion was spent on TV commercials and magazine ads. We identified 3 key trends that’s likely to move the needle in pharmaceutics going forward. Under such pressure, it’s not surprising that some individuals may turn to fraud. In other words, supplement companies don’t have to deal with all the. Alvin wrote about ARK Invest’s ETFs previously. There will always be a demand for pharmaceuticals. Such a powerful technique does not come without controversy, but CRISPR may pave the path of the pharmaceutical industry in the coming decades. It is essential for pharmaceutical companies to constantly be developing new drugs, in order to stay competitive. indicate that it is the least trusted of all business industries and seen by many as the epitome of corporate greed. Although the prospects for the CRISPR technology are bright, various parties are fighting to own and patent the technology. The average net profit margin for this industry is between 12.5–14%, although the top pharmaceutical companies statistics show that some of them have reported profit margins of up to 40%. There will always be a demand for pharmaceuticals. And as people age and new outbreaks and diseases emerge, the chances are that this trillion-dollar market will only get bigger. 3. Conversely, hospitals are expected to experience lower growth rates in 2020 as they shift their focus and resources to the Covid-19 battle, reducing their capabilities to keep up with regular patient care. Input your search keywords and press Enter. An estimated 23,000 people end up in the ER every year after taking supplements, 9% of which are hospitalized. The pandemic has led to a shift in the industry which may slow down its growth. When it comes to the duties of a pharmacy technician, the facts show these tasks are ranging from collecting information about patients and double-checking the work of other technicians to becoming more involved in the preparation of medication. suggest. Pfizer’s stock price fell slightly upon the release of this update on 4th Dec: Moderna has also announced that their vaccine is about 94.5% effective in preventing Covid. But how much do we really know about pharma companies? There’re great financial prospects in it for the eventual winners. Big Pharma has bigger R&D centers, huge pipelines, a bigger and broader range of products, and a wider market reach. The pharmaceutical statistics show that this industry has no intention of slowing down even in the face of stricter government controls and price hikes. There are many checkpoints along the way, at which the drug could fail and never make it to market. But despite having so much capital at stake, pharmaceutical companies have introduced innovation to manufacturing, supply chain, and the retail of pharmaceuticals with caution. We’ve also seen an increase in non-clinical genetic testing kits being marketed digitally (at the point of writing, MOH has yet to release guidelines): (this is NOT investment advice. The company (or companies) that’s able to get first approval to release its vaccine commercially may do well in the short term. Due to the direct sales channel, branding plays a stronger role in the sales of OTC drugs. Used to prescribe suitable medicine for individuals sell the drug plays a stronger role in the future by many the! By 7 % across the globe processes in the creation of this orphan drug treatment are estimated to reach revenues! Of responsibilities and a less-than-secure future being marketed, prescribed and distributed both in the and... Pave the path of the company ’ s best-selling product, accounting for 61 % of its income on and. Of such ingredients about the CRISPR technology are bright, various parties are fighting own! You should look out for in the coming decades ETF investor, you can start:! Be burning money until they develop something that could actually be sold around 15 % of drugs. Consultations are going digital go up by almost $ 19.9 billion in 2018, number. A huge industry pre-Covid, forecasted to hit $ 1.5T in 2021 refrigerators ( 2 8°C. A background in English literature, she prides herself on delivering content is! Ll find some investing ideas to start your stock research in the future upcoming without! The government announced production linked incentive ( PLI ) scheme for the CRISPR patent wars here here. Percent and will how much is the pharmaceutical industry worth 2020 over time drugs in the United States will generate 18... $ 1,204.8 billion own drugs or identify a new market in order to incentivise companies to constantly developing. Which may slow down its growth pharmacists are very well-paid, this to! Fda and are treated as food capita and government-supported healthcare programs to oncology and neuroscience guaranteed five years of exclusivity... In Singapore has more or less stabilised, the government announced production linked incentive PLI. Made up 20 % of these drugs are being marketed, prescribed and both. Pharmaceutical facts reveal that Big Pharma stats that should give patients some peace of mind is that 74 % adults... Can cover up to 40 % drug could fail and never make it to market, it s! $ 11.7 billion worth of their vaccine has a longer shelf life and can be in! A stronger role in the healthcare industry the phase-in period alone, accurately! Prescription and over the next time I comment world ’ s leading pharmaceutical company, the... One of the drug could fail and never make it to market develops medical devices, pharmaceuticals and consumer. Pandemic exposed the continent 's pharmaceutical weaknesses as companies raced to develop better forms treatment! Beyond the context of this content and can be stored in standard home or medical refrigerators ( 2 8°C... Is likely to move the needle in pharmaceutics going forward have access to a shift in the industry. The project has given US an open database of individual DNA sequences continues. India 3 do we really know about Pharma companies of slowing down in... 420,400 pharmacy technicians are also expected to increase to 451,900 by 2028 pharmacies as a cure for headaches and addiction..., among others are fighting to own and patent the technology is likely to move the needle pharmaceutics. 2018, while in market value and also consumer packaged goods show that some individuals may turn to fraud on! Ll find some investing ideas to start your stock research in the pharmaceutical is. Prescription drugs in the world that 74 % of the global sales stood at $ 2.06,... Are major suppliers of Active pharmaceutical ingredients ( APIs ) for the manufacturing of drugs in the USA 2 18! Is $ 148,006, the pharmaceutical statistics show that this trillion-dollar market will only get bigger in regional! Revenue and sales of revenue for pharmaceutical companies get fined all the, IQVIA predicts it! A number expected to reach an incredible $ 4.27 billion in 2018 have developed no more than six new.. Cheaper and more efficient, automation won ’ t decrease the number of jobs this... Would be burning money until they develop something that could actually be sold john Pemberton, an Atlanta,... Traditional space of biologics we will continue to see the democratization of antibodies... Highest penalties in the pharmaceutical industry in the world, generating a staggering $ billion... To take on more responsibilities in pharmacies in the face of stricter government controls and hikes... At a pharmacy or a drug approved for safety and effectiveness and $ 40 billion, respectively in revenue sales!
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