China Demand to Help Push Drug Sales to $880 Billion, IMS Says
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Global pharmaceutical sales may rise 5 percent to 7 percent next year to $880 billion, on soaring demand in developing nations led by China as it becomes the world’s third largest drug market, according to IMS Health Inc.
The 2011 projection compares with this year’s 4 percent to 5 percent growth in drug sales to $840 billion, the Norwalk, Connecticut-based research company said in a report released today. Emerging markets including China and India are expected to expand by as much as 17 percent to $180 billion while growth in the U.S. market slows.