Sunday, February 01, 2009
Maybe the drug companies really are in trouble
GlaxoSmithKline to slash 6,000 jobs. Competition from generic manufacturers and doubts about company pipelines are posing a serious threat to the sector and ING analysts warned of an "intellectual property meltdown" as top-selling products come off patent and sales slow dramatically.
I wasn't so sure about this in my book review of Marcia Angell's The truth about drug companies: How they deceive us and what to do about it but maybe she was right.