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Good News--Drug Companies Having Tough Times

It was just a matter of time before the fatally flawed and corrupted pharmaceutical industry started to decline. You can't fool all of the people forever and more and more are beginning to realize that using drugs long term for chronic diseases is a prescription for disaster, as it does not address the cause. This NY Times article reviews the massive drug company consolidation and how that has adversely affected their ability to introduce even more drugs.

The $400 billion worldwide pharmaceutical industry has rapidly consolidated; 38 major drug companies have merged since 1994. Across the industry, introductions of new drugs plummeted last year to 17 from a high of 53 in 1996, despite a near doubling in annual research spending, to $32 billion. New technologies like robotic screening machines that rapidly test millions of chemical compounds against biological targets have not worked as well as industry executives hoped.

New York Times October 5, 2003

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