GSK's soon to retire chief executive Jean-Pierre Garnier must be a little "demob happy", as he has started speaking very frankly about Big Pharma's Big Problem.
He has told Manager Magazin that he foresees several pharmaceutical companies folding in the next few years because of increasing outlays for research.
'Of the 15 pharma companies that have a significant role in the world, only a handful will remain,' Garnier said in an interview to be published on Friday.
'Hardly any of the large companies are in the position right now to invest enough money into research,' Garnier continued.
A plug for GSK here, who have "upped" their R&D spending more than other Big Pharmas.
Garnier said pharmaceutical companies invest too much money in advertising and marketing at the expense of more research, development and production.
This follows on from Lilly's CEO Sid Taurel, who has also publically admitted the size of the problem ans the most likely solution.
Insider's view: At last! The reality of the situation is being acknowledged. I wonder if we are being "softened up for some dramatic news"!
Forbes
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