Drug shortages in US market, compliance gains positive for pharma exporters

Business-standard | April 23, 2020

Concerns over price erosion in the US market, which has impacted the revenue growth of Indian pharma majors over the last four years, could be reversing. The drug shortages in the US market have increased by 37 per cent since December 2017. Kunal Randeria of Antique Stock Broking says drug shortages are at five-year highs and there is a direct correlation between drug shortage and prices. This is evident as price erosion peaked in 2017 when shortages were at their lowest levels. Concerns over price erosion in the US market, which has impacted the revenue growth of Indian pharma majors over the last four years, could be reversing. The drug shortages in the US market have increased by 37 per cent since December 2017. Kunal Randeria of Antique Stock Broking says drug shortages are at five-year highs and there is a direct correlation between drug shortage and prices. This is evident as price erosion peaked in 2017 when shortages were at their lowest levels.

Spotlight

Since the time of blockbuster drugs and mirrored sales teams a decade ago, pharmaceutical reps’ access to physicians continues to decline each year. Studies indicate that between 36.5% - 44% of physicians are now being designated as “no access.”1 Despite this declining access trend, the industry continues to allocate most of its total sales and marketing budgets to its sales forces, reaching estimates of $12 billion in 2016. With so much at stake, the industry can ill afford to arm its sales force with inadequate sales reports. Yet, the reporting function continues to fall short.

Spotlight

Since the time of blockbuster drugs and mirrored sales teams a decade ago, pharmaceutical reps’ access to physicians continues to decline each year. Studies indicate that between 36.5% - 44% of physicians are now being designated as “no access.”1 Despite this declining access trend, the industry continues to allocate most of its total sales and marketing budgets to its sales forces, reaching estimates of $12 billion in 2016. With so much at stake, the industry can ill afford to arm its sales force with inadequate sales reports. Yet, the reporting function continues to fall short.

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