Publisher’s Letter

Interesting Times We’re Living In

There’s a legend that the Chinese say “May you live in interesting times”—and mean it as a curse. Well, all I can say is that things aren’t dull these days. As I note in our Top 50 Pharma Companies report, however, there’s still good news to celebrate. Revenue for that sector of the industry is not only up, but it gained even more in 2016 than in 2015. Drug prices are strong. Total deal amounts are up. Although NDAs were down, they’re picking up again this year over 2016. M&A activcari kra ft ity was not robust, but that’s probably because the industry has seen a lot of consolidation already over the last few years, and the mergers and acquisitions have mostly led to healthier, growing companies. Moving over to our report on Evaluate’s Data Kit for 2017, you can see that the outlook for the next five years is generally positive, with Compound Annual Growth Rates (CAGRs) rising across the board, and some significant growth anticipated in a number of script and OTC product areas. Of course, as of this writing the whole industry is holding its breath to see what happens inside the Washington beltway with respect to healthcare legislation. But, as I also note in our Top 50 report, we enjoy a pretty solid heritage of both governing and financial markets in this country. Even when major upheavals occur, as we experienced in 2008 when the housing bubble burst, our systems and leadership have the capability of dealing with the crisis so that we don’t suffer the tragic consequences you often see in other countries without these strong institutions. I’ve spent many years observing this industry, and from my position as an executive recruiter and publisher I see and hear numerous points of view about where we’re headed. We are often portrayed as representing 1/3 of the US GDP. But we also represent a significant portion of the worldwide GDP. As a result, we continue to be a major force in world affairs, and I would say mostly for the good. I don’t mean to be overly sunny about healthcare. There are always problems to be solved, and we try to identify them and offer advice from leaders in the industry. But, on the whole, I continue to be proud that we work alongside some of the finest people I know—especially in these interesting times.

And always, please keep the feedback coming. It all goes to making the magazine better for all of us.

Cari Kraft, Publisher

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