Despite patent cliffs, pharma market shows signs of stability

The pharmaceutical market is beginning to show signs of stability, with a review of 30 leading companies highlighting combined revenues of $718.7 billion in 2013, down just 0.2% from 2012, according to new research.

Research and consulting firm GlobalData’s latest report states that while overall industry revenues were relatively unchanged, a familiar pattern saw a number of companies recording significantly lower sales in 2013 than in the previous year.

Adam Dion, GlobalData’s analyst covering health care industry dynamics, says that a major contributor to the pharmaceutical market’s decline in 2013 was Pfizer (NYSE: PFE), which saw its top-line sales decrease by 12.5% or $7.4 billion.