Major pharmaceutical companies Merck, Bristol Myers, and J&J gear up for potential revenue decline

Welcome⁢ to the New York Stock Exchange, where Johnson & Johnson (NYSE: JNJ) is taking the stage. Big pharmaceutical companies‍ like Bristol Myers Squibb,​ Merck, and Johnson & Johnson are facing a​ significant threat‍ as blockbuster drugs are set to lose patent protection, potentially putting⁢ billions of dollars in sales at risk by 2030. This patent cliff occurs when a ⁢company’s patents for leading branded ⁣products expire, allowing ⁤competitors to sell generic versions at lower prices. While this may reduce revenue for drugmakers, it can benefit patients by providing more affordable options. Despite ⁣these ​challenges, some ​drugmakers are proactively addressing the issue⁢ by developing​ new‍ drugs and forming strategic partnerships. The pharmaceutical industry must continually innovate to ⁣replace best-selling drugs with ⁣new, innovative treatments. For more information,⁢ visit www.cnbc.com on 2024-01-28 08:00:01.