According to the WSJ Health blog, big pharma executives at Merck, Sanofi, Lilly and now Pfizer are counting on animal health revenues to fill in for some of these company's revenue shortfalls in the human pharma market.
The market for animal health drugs was $19 B last year and expected to grow at a steady annual rate of 5%. This formerly neglected and lackluster segment is seen as important to the success of these firms near term futures.
Pfizer is banking on its ability to grow faster than the market. Pfizer is positioning itself as more than a mere seller of drugs and vaccines. “Pfizer wants to provide full solutions,” said Juan Alaix head of Pfizer's animal health unit. For instance, Pfizer has begun selling a tool for farmers determine how much feed each of their animals require, which could help them cut expenses.
A novel approach to an old market.
Posted by Bruce Lehr September 20th 2010.
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