Fitch: Weakening Market Forcing Global Pharma Industry to Rein in R&D

CHICAGO--(BUSINESS WIRE)--The global pharmaceutical industry continues to rein in research and development (R&D) budgets to mitigate lower profitability due to relatively weak market dynamics, according to a new Fitch Ratings report. As of end-November, 2013, the U.S. FDA cleared 25 novel medicines for U.S. marketing, compared to 31 in the same timeframe in 2012. The moderation of new drug approvals is within Fitch\'s expectation of lower drug clearances in 2013 and 2014. By comparison, the

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