Nathan Jessop is a columnist for Pharmaceutical Technology Europe.
While not as bleak as believed, the outlook of European biotech sector is struggling compared with its US counterpart.
Germany has shifted from relative pricing freedom to a market that is sensitive and influenced by cost-containment policies. But pharma is pressuring the country to change its policy again.
The next two years may see a shake up in the world's current top pharmaceutical companies, with Pfizer likely to be the only US firm to remain in the top five by sales.
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