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Global drug sales on high
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August 12, 1999: 10:11 a.m. ET
Viagra effect and heart treatments boost sales by 8% in leading markets
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LONDON (CNNfn) - Growth in global drug sales rose sharply over the past year as demand for heart treatments and the Viagra effect boosted volumes, according to an industry report published Thursday.
Sales in the 12 largest markets advanced 8 percent to $196.1 billion in the 12 months to June 30 from $179.5 billion in the prior year, consultant IMS Health said in its annual survey. The top dozen consumers account for 80 percent of global sales. Annualized growth increased from 6 percent in the earlier year.
The IMS survey confirmed the patchy recovery seen in recent drug company results. The U.S. remains by far the world's largest market, with sales up 12 percent to $79.4 billion. Canada, Germany and Spain also recorded double-digit growth rates.
European sales climbed 8 percent while Japan, the second-largest drug market, advanced 5 percent. However, the weakness in emerging market sales remained evident, as Brazil reported an 18 percent fall in local currency sales.
Cardiovascular drugs remain the largest industry segment, growing 8 percent over the past year, while central nervous system-related treatments grew 11 percent. The double-digit growth rate was shared by the genito-urinary segment where anti-impotence drug Viagra broke sales records.
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IMS Health
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