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Local Pharmaceutical Drug Sales Reach $1.6 Billion With 6.7% Year-Over-Year Increase
Ten municipalities make up 33% or $522 million of $1.6 billion in pharmaceutical drug sales
By MARIALBA MARTINEZ
November 25, 2004
Sales of pharmaceutical drugs in Puerto Rico rose from $1.5 billion to $1.6 billion, increasing 6.7% over a 12-month period ending in August 2004, said IMS Health Vice President for Corporate Strategic Planning Ana Maria Zaugg.
"Current issues affecting the pharmaceutical-manufacturing industry in Puerto Rico include the immense pressure for higher rebates, continued erosion of margins, and the manufacturing industrys need to focus on the biotechnology sector," said Zaugg during an IMS Health biannual industry wrap-up at the Pharmaceutical Industry Association of Puerto Ricos annual convention. "Other concerns are the availability of qualified human resources for the pharmaceutical industry in the sciences & technology fields and increased regulations from the U.S. Food & Drug Administration (FDA) and industry-regulated policies that go beyond the FDA, such as finances and production."
Sales of pharmaceutical drugs in 10 of the islands municipalities were 33%, or $522 million of total drug sales. The municipalities are San Juan ($137 million), Bayamon ($94 million), Guaynabo ($60 million), Carolina ($59 million), Caguas ($51 million), Ponce ($37 million), Mayaguez ($29 million), Humacao ($22 million), Hatillo ($17 million), and Arecibo ($16 million).
When revised by category, IMS Health reported that retail or chain-store pharmaceutical drug sales were $913 million, while hospital drug sales were $329 million, nonretail stores were $199 million, and $196 million were from noncategorized sales. Sales growth by category was 12.3% in retail stores, 5.7% in hospital sales, 12.9% in nonretail store sales, and a reduction of 3.6% in nonreported sales.
Sales of pharmaceutical drugs by company established on the island reached $1.4 billion, with $844 million or 60% sold by the top-10 corporations. The first five companies are Pfizer ($178 million), GlaxoSmithKline ($108 million), Merck ($97 million), Bristol-Myers Squibb ($88 million), and Wyeth ($72 million). These were followed by Abbott Laboratories ($68 million), Johnson & Johnson (J&J) ($63 million), Sanofi-Aventis ($60 million), Novartis ($57 million), and Eli Lilly ($53 million).
Sales of biotechnology products reached $125.8 million in Puerto Rico, of which 10 corporations sold $119.3 million. Amgen ($43.9 million) headed the list, followed by J&J ($19.6 million), Eli Lilly ($19.2 million), Novo Nordisk ($11 million), Roche ($7.9 million), Schering-Plough ($5.3 million), Biogen Idec ($3.9 million), Pfizer ($3.4 million), Merck ($2.7 million), and Sanofi-Aventis ($2.4 million).
Finally, sales of Puerto Ricos 10 leading brand products were $123.4 million. Heading the list was Lipitor ($18.1 million), followed by Plavix ($18 million), Singulair ($13.5 million), Prevacid ($12.7 million), Norvasc ($12.1 million), Neurontin ($11.7 million), Zocor ($10.7 million), Zithromax ($9.2 million), Fosamax (9.1 million), and Protonix ($8.3 million). All the above brands, except Singulair and Prevacid, are manufactured in Puerto Rico.
This Caribbean Business article appears courtesy of Casiano Communications.