Big Pharma Discharged by Chinese Doctors (YahooFinance)
Doctors are now refusing to see pharmaceutical reps in China, for fear of being implicated in the growing drug scandal there. Big Pharma is taking a hit to be sure, with drug sales in China waning sharply. GlaxoSmithKline Plc is getting hardest hit with sales growth expected to drop sharply and perhaps even reverse for the third quarter of this year. And in a market where pharmaceutical sales are expected to hit $1 trillion by 2020, from $357 billion in 2011, any reversal in growth can be devastating for a company’s future intentions. Just as it can be a disaster for investors backing a company like Glaxo, if doctors’ fears of accepting visits from pharmaceutical representatives remain.