Financial crisis clouds the future of biopharma

Anyone looking for signs of how the financial crisis can affect the biopharma industry should check out the interview Schering-Plough CEO Fred Hassan (photo [1]) gave to the Wall Street Journal. The company is already seeing sales of some of its biggest sellers crimped by European governments adamant about finding ways to cut healthcare costs. And he cites the rheumatoid arthritis drug Remicade [2], one of the most successful biotech drugs on the market, as a case study. For biotech companies, there's a silver lining to that financial cloud. Pharma companies under pressure have been turning to biotech companies for the products they need to bolster their income. But if revenue declines significantly, they may have less money to spend on them. Report [3]