Word: pharma
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Though malaria is both preventable and curable, many of those in the developing world struggle to get affordable treatment, particularly in sub-Saharan Africa, where the mosquito-borne disease is most prevalent. Blame for that lack of access has been laid largely at the feet of Big Pharma, long vilified for pricing medicine beyond the poor's reach and ignoring diseases that are endemic in poverty-stricken areas...
...Amgen (AMGN) is still growing rapidly unlike most Big Pharma companies. Its biotech business is producing novel medical treatments that have kept Amgen's sales solid while old line drug companies have been shrinking. In the fourth quarter, Amgen spent $770 million on R&D and needs to do so to both further refine and develop new drugs. The firm is not cutting back on the essentials for keeping its product mix strong simply because the economy is weak. Amgen expects to bring in $15 billion in revenue this year, about flat with 2008. Amgen has several products in trials...
...with a new President who has vowed to fight Big Pharma to lower drug costs and a Democratic Congress with several anti-DTC advocates, drug and media companies are justifiably jittery. "We are entering an environment that is going to be more open to those who are adamantly opposed to direct-to-consumer advertising," says Jay Bolling, president of Roska Healthcare Advertising in Montgomery...
...policy follows a recommendation that the Institute of Medicine offered in a 2006 report, "The Future of Drug Safety." "It doesn't have to be a full two years," Waxman says. "It's allowed to be limited to drugs that the FDA thinks might be a safety problem." Big Pharma certainly appreciates this less aggressive approach. (See the top 10 campaign ads of all time...
...financial requirement for those who are doing DTC advertising," Bolling says. "It would have companies over a barrel. That's where it's really going to hurt." Things may be quiet on the drug front right now, but with a new Democratic President and Congress in place, Big Pharma should stock up on the painkillers...