Brand-Name Drug Makers Blame Patent Expirations For Depressed Profits

Law360, New York (October 30, 2004, 12:00 AM EDT) -- Weaker earnings among many of the world’s top drug makers have raised questions about the blockbuster drug model, as the industry faces an ominous wave of patent expirations over the next few years.

In the last week, a string of U.S. and European drug companies released quarterly reports that either reported weaker earnings in the third quarter or warned of depressed prospects due to the threat of generic competition and a thin product pipeline.

On Friday, Bristol-Myers Squibb Co. said third-quarter earnings fell 16% as the...
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