This is a direct quote from a recent Medical Media & Marketing story titled, "Pharma fears additional job fallout."
Though the broader economy is showing signs of picking up, a survey of drug company execs suggests that the era of pink slips continues to bedevil the pharma industry. PharmaIQ's "The Big Pharma Recession Report” found that 44% of pharma employees are worried about losing their jobs.
The study highlights additional support for the less-is-more strategy: 60% of employees who were working in downsized departments said the same amount of work was being done by fewer people.
So, what does all this mean and what will the biopharmaceutical industry look like in 5 or 10 years when so many essential medications are available as generics? What will happen when bioequivalents enter the market?