Positive aspect of Recession?

[Guest guest]

From the Wall Street Journal:Read more: The

Ten American Industries Which Will Never Recover - 24/7 Wall St. http://247wallst.com/2010/09/07/the-ten-american-industries-which-will-never-recover/#ixzz0yw3oHzHAPharmaceuticals

This industry has bled workers for three years, and that trend is likely to continue. The largest companies in the sector, such as Pfizer and Merck, have a number of blockbuster drugs that have lost their patent protection in the last decade. They have other pharmaceuticals that will lose that protection in the next decade. Sales of most of these drugs will move to generic companies that will sell them for far less, and erode critical revenue sources for the huge pharma firms. Most

companies in the industry admit that they cannot replace the drugs that

go “off patent” fast enough to keep their revenue high. The other reason employment in the sector will stay down and may drop further is that big drug companies are merging to save costs and most of those costs are people. Pfizer has cut 30,000 people since the start of the recession. Merck has cut 25,000, and these companies and their peers expect that they will have to bring down costs even more.However, I'd bet their profit margins are greater than ever. Everyone chant, "Down with the dealers of disempowering drugs!!"Jamey Dyson, DC