US drug sales growth continues slowdown in 2008

Mar 19, 2009

(AP) -- Sales growth of prescription drugs in the U.S. slowed for the second straight year, with the economic downturn playing a key role, according to IMS Health Inc.

Market research firm IMS cites lower demand for less-expensive generic drugs, lagging new product , and reduced consumer demand. Sales rose just 1.3 percent to $291 billion in 2008. That about matches IMS' prior outlook of 1 percent to 2 percent growth.

In 2007, U.S. sales rose 3.8 percent to $286.5 billion, while they gained 8 percent in 2006.

Anti-psychotic drugs were the lead sales drivers, followed by and treatments for heartburn and related conditions.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Pharmacists' group discourages providing execution drugs (Update)

Related Stories

World semiconductor sales up 5 percent

Nov 01, 2005

World semiconductor sales grew more than 5 percent in September as demand remained robust and driven by brisk markets for cell phones and personal computers.

Semiconductor sales down 28.6 pct in January: SIA

Mar 02, 2009

Worldwide semiconductor sales declined 28.6 percent in January from a year ago as the global recession continued to take a big bite out of the computer chip industry, an industry tracker said Monday.

Recommended for you

Teva buying Auspex for $3.2 billion

Mar 30, 2015

Teva Pharmaceutical Industries Ltd. is buying Auspex Pharmaceuticals Inc. for about $3.2 billion in a move to strengthen its position on central nervous system condition treatments.

Oral hepatitis B vaccine could become a reality

Mar 30, 2015

In a new study, researchers report progress toward perfecting a radical new method of producing vaccines using genetically modified corn. The approach could lead to an oral hepatitis B vaccine that requires no refrigeration ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.