FTSE 350 Review 2018 

FTSE 350: Big pharma braced for a rocky year

FTSE 350: Big pharma braced for a rocky year

Last year began with a great deal of hope for the global pharmaceutical and biotech industry, which rapidly descended into despair. A plethora of high-profile clinical trial failures – AstraZeneca’s (AZN) long-awaited cancer drug, Eli Lilly’s groundbreaking Alzheimer’s treatment and Roche’s new haemophilia cure, to name a few – were compounded by political pressure on amending drugs prices. In January, US President Donald Trump proclaimed pharma companies were “getting away with murder”. In June, things became much worse when Evaluate Pharma trimmed its guidance for drugs sales growth for the first time ever. Revenues are now expected to reach $1.06 trillion (£0.86 trillion) by 2020, $0.16 trillion below previous forecasts. It’s hardly surprising, therefore, that expectations for the pharma and biotech market in 2018 is gloomy at best.

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