“The financial crisis currently spreading around the world has exerted negative impacts on both the pharmaceutical and biotech industries,” according to a Life Science leader article (see “The Impact Of The Financial Crisis On The Pharma And Biotech Industries“). “A large number of R&D programs have been either cut or put on the shelf.”
The chart below summarizes the number of pharmaceutical and biotech companies that announced restructuring plans between September 2008 and April 2009 (click on chart to for an enlarged view):
With regard to advertising, respondents to the Pharma Marketing News “Future of DTC Advertising” survey (here) are still pessimistic about 2009 (see chart below). While 52% of respondents who took the survey in 2008 predicted a decrease in spending, 62% who took the survey in 2009 predicted a decrease (vs. 28% and 23%, respectively, who believe spending will increase in 2009).