Consolidation in the Pharmaceutical Industry
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چکیده
The total global pharmaceutical market was estimated at around US $343 billion (bn) in 1999 and registered a 10% growth in 1999 compared to 6-7% p.a. in the past three years. The industry is characterised by high fragmentation with the top ten companies accounting for only around 36% of the prescription pharmaceutical market in 1998. However, consolidation in the industry has resulted in an increase in the market share of the top ten companies to around 40% of the prescription pharmaceutical market in 1999. Some of the prominent mergers in 1999, were Hoechst Marion Roussel with Rhone Poulenc to form Aventis and Astra with Zeneca to form Astra-Zeneca. None of the four companies, prior to their merger, were a part of the top ten companies in the world. However, post merger, in 1999 the two combined entities figured in the top five companies in the market. This trend of consolidation is expected to continue in future as well. The recent announcements of Glaxo-Wellcome merging with Smithkline and Pfizer merging with Warner Lambert are again expected to change the rankings in the world pharmaceutical market in 2000.
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