ECONOMIC CRISIS AND HEALTHCARE

British newspaper has just announced that Glaxo Smith Klein is set to cut another 6,000 jobs, having announced 800 job cuts last October. This follows the announcement last week by Astra Zeneca of 6,000 job cuts. Of course, competition is tough from generic drugs, the economic downturn, and also perhaps lack of new drugs in the pipeline. Last week also saw Pfizer merging with Wyeth.
I am very concern as these companies have good research teams and are innovative to give us good, new therapies. They are also very supportive of CMEs for doctors. Looks like we are in for a hard time in terms of new products, marketing of new products and CMEs for doctors.
Last week also saw a generic company in USA shutting down after being ordered to remove a complete product range from the shelf across USA. The company supposedly have their drugs with doses that did not fit the labels. There were higher dosages in the drugs than that on the label. Now this is dangerous.
Well we can expect more bad news as the economic crisis deepens in the next 12 months.