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Is the Pharma Industry in a Recession?Posted: March 17, 2008The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey. Drug sales in the U.S. grew at their slowest pace since 1961 according to IMS Health Inc. (see "Drug Sales in U.S. Grow at Slower Pace"). Just how how mild or strong or long this recession will be is any body's guess! Like everyone else, I'm wondering how the recession may affect my business, which depends upon how well my clients -- i.e., you -- are doing. Many of readers of Pharma Marketing Blog service the pharmaceutical industry (see "Who Reads Pharma Marketing Blog"), which is not growing as fast as it did in the past. Usually, that means cutting back on expenses -- especially labor expenses. But will the industry also cut back on advertising and promotion, which is our bread and butter? What can we do? First, do we believe that there will be cutbacks in ad budgets? You can give your opinion by reading today's post to Pharma Marketing Blog and taking the poll I set up there.. For more posts in related topic areas, see: If you wish to receive notice by email whenever a post is made to Pharma Marketing Blog, please subscribe.
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