Revenues for brand-name
drugmakers will rise just 2%-3% in 2014, forecasts ratings agency Fitch, but it
adds that global pharmaceuticals is still one of its highest-rated industries,
and that the sector outlook remains “stable.”
Moderate pressure
from patent expiries, cost-containment policies in the European Union (EU) and
weak employment in the US will be only partly offset by uptake of new products
and strong growth in emerging markets, it says in a new report, which expects
no significant divergence in the trend in profitability between US and EU-based
drugmakers next year.
Fitch also believes that
industry will find patent expiry levels in 2014 to be “manageable.” Patents on
roughly $34 billion-worth of branded drug sales are set to expire during the
year - accounting for approximately 3.6% of global market sales - compared to
$28 billion this year and $55 billion in 2012.