Pharmaceutical Executive-10-15-2008

Analysts report that Big Pharma isn't being hit that hard by the credit crunch due to the large amount of cash many companies have in their coffers for mergers and acquisitions. However, smaller firms looking to be sold may have a hard time holding out for higher offers.

Specialty drug firm Norgine splits from the British pharma association due to a growing rift about pricing. A "war of the roses" is escalating between Big Pharma and smaller drug manufacturers; Norgine could be the first casualty.