PSA 2004: Looking to the Sustainable Middle

If the nominal theme of Windhover's 2004 Pharmaceutical Strategic Alliances conference was "transitions", the full subtext was "transitions to sustainability." Mid-sized players appear to have the best shot at sustainability in an environment where, increasingly, less differentiated, primary care blockbusters are out, and specialist products are in.

If the nominal theme of Windhover's 2004 Pharmaceutical Strategic Alliances conference was "transitions", the full subtext was "transitions to sustainability."

Sustainability would hardly seem to be a matter of much dispute when it comes to Big Pharma. But serious threats to it were at least tacitly acknowledged in various talks at PSA—which took place a week before Merck & Co. Inc. announced its decision to pull rofecoxib (Vioxx) from the market, driving a wholly unprepared for $2.55 billion hole in a P&L bracing for the 2006 loss of the US patent on $5.1 billion simvastatin (Zocor). Discussed in several presentations, Bayer AG will now try to survive as a medium-sized European specialist, having basically abandoned its US primary care business to the struggling Schering-Plough Corp

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