International pharmaceutical giant gratifying performance in the financial crisis
Through collating some financial statements of inational pharmaceutical giants, I find that the pharmaceutical industry undertake less obvious impact by financial crisis.
The British pharmaceutical giant AstraZeneca announced in 2008 performance report showed that total sales growth of 3%.
French Sanofi – Aventis company performance in 2008 also exceeded expectations. The company’s full-year net sales is 27.568 billion euros, an increase of 3.7%, net profit of 7.186 billion euros, an increase of 3.2%.
Data show that in 2008 Novartis achieve net sales growth of 9 percent, reaching 41.5 billion U.S. dollars, operating income increased 32 percent, amounting to nine billion U.S. dollars, the annual profit of 8.2 billion U.S. dollars, an increase of 25%.
According to the analysis, the financial turmoil leads to global economic slowdown and weak demand. It is lack of consumer confidence and purchasing power has declined, but consumption of medicine is a rigid demand, less affected, so pharmaceutical companies can market relative good performance .
March 12 2009 02:44 pm | Drug Market News