Sunday, March 30, 2008

Prescription drug sales see slower growth

Sales of prescription drugs in Canada grew by 6.3 per cent last year, the slowest rate in a decade, health industry tracker IMS Health said Wednesday.

The rate, on sales of almost $19 billion worth of prescription medication, is about two percentage points lower than the average growth of 8.4 per cent between 2002 and 2006, IMS Health said in a statement.

IMS attributed the slower sales growth to product withdrawals issued by Health Canada, along with the expiry of patents on several major brand-named drugs. ...more

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