The simmering public outrage over drug prices finally seems to be catching up to the pharmaceutical industry.
Earnings reports in recent days have laid out a grim picture of slumping sales and anemic growth projections at several large drug makers and wholesalers. Executives blame many factors — including heavy competition and hardball tactics from insurers — but analysts say the bottom line is crystal clear: Pharma can no longer count on steadily hiking drug prices.
That realization has sent some drug stocks on a roller coaster. It’s also battering the middlemen in the prescription supply chain, who have made their money by taking a cut of ever-rising prices.
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