Pharma firms hopeful for year ahead

Pharma firms around the world are broadly hopeful about revenue growth over the next 12 months, according to a new study.

Nearly half – 47 per cent – of respondents to the study by iCD Research said they were "more optimistic" about growth.

Some 28 per cent said they were "neutral" and 23 per cent said they were less optimistic.

However, ongoing economic concerns have led to firms revising down their forecasts, with global economic growth projected to be 2.5 per cent in 2012 and 3.1 per cent in 2013.

This is down from estimates of 3.6 per cent. Market turmoil in Europe and lagging growth in emerging economies are fuelling the revised forecasts, iCD said.

But emerging markets – China, India and Brazil – are set to see positive growth rates this year, spearheaded by China, which will enjoy double digit growth on the back of a successful 2011.

According to separate research by Espicom, the UK pharma market is set to experience moderate growth over the coming years.

Posted by Fiona Griffiths