GlaxoSmithKline set to overtake Pfizer as world's largest pharma firm by 2012

There will be major changes in the global pharmaceutical market and key changes in the top 10 company list by 2012, says a new report from URCH Publishing, a provider of drug industry business information.

The report, Pharmaceutical Market Trends, 2008-2012 - Key market forecasts and growth opportunities, projects that current number one, US behemoth Pfizer, will fall to third place in the coveted list. The ranking in 2012 will be headed by UK-headquartered GlaxoSmithKline followed by Switzerland's Roche. Pfizer was the leading company in 2007 with a global pharmaceutical market share of 6.2%. GSK was in second position with a 5.4% stake and Roche held 4.3%.

The top 10 companies, ranked by pharmaceutical sales, generated total sales of $284.0 billion in 2007. "Total pharmaceutical sales from these companies accounted for more than 40% of the total market," said Steve Seget the report's author. "However, only two of the top 10 pharmaceutical corporations in 2007 are forecast to grow at a rate above the overall pharmaceutical market over the next five years; Roche with a compound annual growth of 6.2% and Novartis with a CAGR of 6.1%," he added.