Pharma Companies Search for Solutions in the Face of Upcoming Patent Cliff

With a patent cliff on the horizon for the biopharma industry, nearly $236 billion in pharmaceutical sales will be put at risk between now and 2030. In the next eight years, the patents will expire for over 190 drugs, causing a massive drop in revenue due to increased competition.

Pharma companies AbbVie, Bristol Myers Squibb and Novartis are expected to be hit the hardest by this patent cliff. However, industry leaders are working to develop different strategies to offset profit drops before they occur.

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