Worldwide pharmaceutical sales are projected to increase at a compound annual growth rate of 5-8% reaching $1.1 trillion by 2014, fueled by double-digit growth in emerging economies. However, many large firms face challenges as drug patents expire and revenues could drop by 30-40%. The US generics market is anticipated to grow 10% annually through 2013 due to healthcare reforms that will provide insurance to 32 million more people and the establishment of a regulatory pathway for biosimilars. Progressive pharmaceutical companies must adopt new workforce strategies to respond to these pressures and opportunities in the changing marketplace.

1. Pharmaceutical industry $1.1 trillion by 2014. WorldWide pharmaceutical
sales are expected to increase at a compound annual
recent trends and challenges groWth rate of 5–8%. fueling these gains are projected
double-digit groWth rates in emerging economies.
the challenges the oPPortunities
exPiring healthcare
Patents reform
2011 32 million
$142 billion additional people will have
health insurance and access to
prescription drugs under the
2015 new health plan.
as products come off patent protection, many large
firms are at risk of revenue reduction of up to 30–40%.
outsourcing, collaborative
PartnershiPs and strategic
alliances within the industry are
growth of forging new business models.
generics
2
the us generics market is anticipated
to grow 10% annually during 2010–2013,
fueled by the pressure to reduce costs
in healthcare, the expiration of patents
and the establishment of an approval the 65+ segment of the population
pathway for biosimilars. will nearly double between 2010
and 2030. on average, those over
65 years old take between 5 to 6
prescription medicines.
drug recalls
309
concerns over safety and
%
in 2009
Progressive pharmaceutical companies are realizing that
in order to respond to these pressures and command a
competitive position in the marketplace, they must take
supply chain quality have surged. a new approach to their overall workforce strategy,
finding new strategies for accessing and deploying
critical talent where and when they need it.
Sources: Business Monitor International (BMI) Q42010; Census.gov; CNN.com; Fda.gov; IMS Health; Yahoo! Finance