Decision Resources: Generic competition will crush hypertension drug market
BURLINGTON, Mass. The market for hypertension drugs will drop by $3 billion by the end of the decade due to generic competition, according to a new report by healthcare market research firm Decision Resources.
The report, announced Tuesday, found that the market for drugs to treat high blood pressure would decline from 2009’s $26 billion to $23 billion by 2019 in the United States, United Kingdom, France, Italy, Spain and Japan.
The largest decline will hit Novartis’ Diovan (valsartan), which will lose more than $1 billion in sales in 2013, following market entry of generic versions of the drug.
“Emerging agents will find it difficult to penetrate the highly genericized hypertension market because of competition from inexpensive and efficacious generic anti-hypertensive drugs,” Decision Resources analyst Taskin Ahmed said. “Through 2019, we do not forecast blockbuster sales for any of the emerging anti-hypertensive agents.”
Target-funded study highlights cost of hunger in Minnesota
ST. PAUL, Minn. — A Target-funded study, conducted by the University of Minnesota Food Industry Center, found that hunger costs Minnesota residents more than $1.62 billion annually in direct and indirect health and education costs.
The study found that hunger leads to poorer health and education outcomes. For example, Minnesotans pay $925 million in such annual direct medical expenditures as hospitalizations and medications related to hunger, as well as $333 million annually in such indirect medical expenditures as treating headaches and colds. Furthermore, the study found hungry teens likely will develop depression, while hungry adults more likely will be obese or have Type 2 diabetes.
To close the hunger gap in the state, Target has pledged 60,000 lbs. of nonperishable items to the Hunger-Free Minnesota coalition, which seeks to change the way individuals, organizations and governments view and respond to hunger. Target’s donations are part of the company’s continuing involvement in hunger relief nationwide. The coalition includes six Minnesota food banks.
In related news, Minnesota Public Radio is partnering with the collaboration to underscore hunger awareness with events and radio and digital promotions.
Click here to learn more about Hunger-Free Minnesota.
H.D. Smith veteran Joe Conda tapped for NACDS Pratt Award at pharmacy conference
SAN DIEGO —The National Association of Chain Drug Stores tapped wholesale and pharmaceutical industry veteran Joe Conda for its highest honor, the Harold W. Pratt Award, to close out its 2010 Pharmacy and Technology Conference here.
The award, named for longtime Walgreens pharmacy leader Harold Pratt, was given in recognition of Conda’s four decades of leadership in pharmacy, according to NACDS. The honor was established in 1985 by the NACDS board to recognize individuals “whose activities have contributed to the promotion, recognition and improvement of the practice of pharmacy within the chain drug industry,” according to the organization.
Conda is SVP strategic planning for pharmaceutical wholesaler H.D. Smith, charged with managing the company’s strategic development process, translating opportunities into measurable objectives and assisting senior executive leadership with long-term planning. Prior to joining H.D. Smith, Conda consulted for pharmaceutical, consumer packaging and medical technology companies.
Previously, he served as president of Owens Illinois Healthcare Packaging, and also served in sales and marketing capacities at Brockway.
“We are pleased to honor Joe’s 40 years of dedicated service to the pharmacy industry by bestowing upon him the Harold W. Pratt Award,” said NACDS president and CEO Steve Anderson, who honored Conda at the annual pharmacy conference’s final reception and dinner Aug. 31. “Joe has spent his time building relationships and building strategy. He has forged relationships among many groups that benefited not only his company, but also the industry. He has helped shape pharmacy into what it has become today, and helped to create the momentum that will continue to enhance pharmacy’s role in healthcare delivery.”