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Future Looks Strong For Europe's Pharma

July 15th, 2016
euope drug sales chartEurope's economic outlook may be murky, but the future for pharmaceutical growth is rosy.

EvaluatePharma's latest whitepaper, "Pharmaceutical Innovation in Europe," says with potential blockbuster drugs already on the market or in the pipeline, pharma's revenue is forecast to grow at an annual compound rate of 3.2%, twice the GDP of the European market.

"Despite all the challenges posed by payers and the increasing scrutiny on the price of new pharmaceuticals, the analysis based on European Drug Forecast data paints a positive outlook for the pharmaceutical industry on the continent," says the report authored by Antonio Iervolino, head of forecasting at Evaluate.

Two factors are driving the optimistic outlook.

First is a stream of medical breakthroughs that, the report says, "are likely to transform many therapy areas." These include dramatic changes in oncology therapies that will impact clinical guidelines. Other areas where new and several existing drugs hold promise include multiple sclerosis, chronic heart failure and rheumatoid arthritis.

Second is a more congenial relationship between manufacturers and regulators and payers. What the report calls "a common language" is emerging between companies and regulators as a consequence of cooperation in developing and approving drugs for unmet medical needs. Similarly, manufacturers and governments are holding discussions earlier about the effectiveness criteria and related matters that the payers require.

The report also details forecasts on the companies that will benefit the most from the growth, and which drugs will become the top sellers in Europe by 2022.

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