Creative Destruction in Pharmaceuticals Creates Biotech Opportunities
To borrow a phrase from those who think the world is running out of oil, Big Pharma is facing the consequences of "peak discovery." The large players are all succumbing to a similar disease: patent expirations. At the same time, shrinking in-house pipelines mean that the Big Pharmas are without sufficient new products to replace the ones they will lose to generics. It is notable that only a fraction of FDA decisions for 2011 will go to the behemoths.
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