The biopharma industry is so dynamic and has had so many watershed moments for one reason or another that for someone to proclaim a new one is pretty pointless.
Still, it does feel as if something’s happening here. The building tensions over pricing, and a review of the top 15 companies by 2016 revenues, suggests the relentless march forward of drug prices and profits may have slowed.
Sales for the top 15 companies were up about 4% for the year combined, certainly not a figure that shows great strides. Four companies in the top 15 saw their revenues fall for the year, while others reported results that would be classified as flat.
The companies prominent in the diabetes field have been under payer pressure for several years now, and sales at Sanofi and Novo Nordisk illustrate that, even if Eli Lilly managed to see some significant gains in diabetes meds in the fourth quarter.
Some drugmakers had responded to the rising chorus of criticism by pledging to keep price increases to single digits. Others have since followed suit, prompting questions about some drugmakers’ ability to continue growing sales without pricing freedom.
Top 15 pharma companies by 2016 revenue are: