Abstract
IT'S HARD TO DENY THAT THESE ARE TOUGH TIMES FOR THE pharmaceutical industry The rate of new drug approvals has plummeted precipitously, and the immediate future seems unlikely to bring a rapid turnaround. A substantial fraction of the market is threatened by imminent patent expirations and the inevitable generic competition they bring. And a number of high-profile drugs have been pulled from the market. If times are tough for the pharmaceutical companies, they're no easier for drug delivery companies, whose fates are tied to that of the industry The price of the average drug delivery stock has fallen 55% over the past five years, according to industry analyst David M. Steinberg of Deutsche Bank Securities, San Francisco. It's a bear market for drug delivery stocks, he said at the annual Drug Delivery Partnerships meeting, held in San Diego in late January In the traditional drug delivery business model, the company develops one or more technology ...
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