Drug sales forecast to fall for first time in 10 years

Increased scrutiny around the pricing of medicines is starting to have an impact on drug sales growth, according to Evaluate’s latest World Preview report.

Despite consensus forecasts for worldwide drug sales hitting $1.06 trillion in 2022, this is down from the $1.12 trillion analysts forecast for the same period last year. The fall also represents the first time in 10 years of Evaluate analysis that total drug sales have failed to beat previous year forecasts.

However, sales of some of the industry’s hottest products including cancer immunotherapies like Merck & Co’s (NYSE: MRK) Keytruda (pembrolizumab) and Bristol-Myers Squibb’s (NYSE: BMY) Opdivo (nivolumab) are expected to help propel the sector to its expected trillion dollar sales target. The report also finds that, even with mounting questions around their pricing, orphan drugs are now set to make up a third of pharma sales by 2022.