Outlook for global pharma industry shifts to positive on successful product launches; Moody’s
The success of new products in the global pharmaceutical industry will more than offset global pricing pressures, supporting an outlook change to positive from stable for the industry, says Moody's Investors Service. Moody's projects annual earnings before interest, taxes, depreciation and amortization (EBITDA) growth of 4%-5% for the industry over the next 12-18 months.
"Oncology is currently the industry's biggest growth opportunity, with newly launched cancer drugs, such as Bristol-Myers Squibb's Opdivo [nivolumab] and Merck & Co.'s Keytruda [pembrolizumab], having significant upside," says Michael Levesque, a Moody's senior vice president, adding: "Innovation, alongside research and development productivity improvements, has also produced stronger late-stage pipelines, which means other new products will be launched over the next 12 to 18 months."
US prices for most products expected to rise
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