What would private (health) drug industries do to overcome the first ever contraction

[Frazien]

The global economy is in experiencing its first ever period of contraction. If the world has already become "developed", then the markets need to change their processes. What will a crucial private health-care sector be doing to re-invent itself to overcome this long lasting crisis ? Will they become both cause and remedy for sustenance ?

 

[Onceajoan]

Reinvent is not such a great word to apply to the drug industry - adapt perhaps. Reinvent suggests some kind of identity crisis or need to transform into something else. Mergers have been happening in hopes that each company can capitalize on the strengths of the other company. It's a bit like the game RISK. I've got Spain, but I need Italy as an ally.

Genentech was acquired by Roche (a Swiss pharmaceutical company) - although acquire is too nice a word. Genentech's ability to survive is based on innovation - novel drug therapies in various stages of development. Their constant pipeline of new products assures success in the long run. Their novel drug therapies which focus on the development of molecules target all forms of cancers. That's why Roche bought them out because they don't have much of a pipeline. While Genentech drugs are exceedingly expensive, the wealthy will willingly pay for them. In that sense, novel drug therapies will not be effected. There will always be a market for life saving or life sustaining drugs for those with money. It's what the market will bear.

The rest of the stiffs without the means will be forced to take third world manufactured generic drug product in which the safety is questionable. (Although I think over 70% of the world's drug supply is manufactured in third world countries).

The old dinosaur drug companies (Merck, Shering Plough, Roche, Bristol Myer, etc) have already sent most of their manufacturing third world while more and more Americans lose jobs. These are cost saving measures. Generic drugs are also manufactured in these third world countries: primarily - India, Singapore, Mexico, Puerto Rico, Poland. Anywhere that cheap labor can be found. Questions about safety anyone?

But that's okay. It's all part of the new politics.

 

[Haphazard]

Well, at least, in America, they're going to hold the American people hostage. That much I know, that much they already do.

In other countries they wouldn't be able to get away with it.

 

[Arclight]

The global economy is in experiencing its first ever period of contraction. If the world has already become "developed", then the markets need to change their processes. What will a crucial private health-care sector be doing to re-invent itself to overcome this long lasting crisis ? Will they become both cause and remedy for sustenance ?

If you want to sell the cure.. you make the disease.

Is that what you are asking?