The FINANCIAL -- Continued negative revenue trends over the course of 2011 exacerbated by significant drug patent expiration will overshadow a highly productive year for the global pharmaceutical industry, according to Fitch ratings .

Fitch-rated large pharmaceutical companies experienced the third consecutive quarter of falling pharmaceutical revenues. Generic drug competition and government cost containment are the major causes of pharmaceutical sales pressure, leading to an average weighted decrease of 0.7% in the second quarter of 2011. The industry's revenue pressures will be especially evident in Q4.

Fitch anticipates that 2011 will be a strong year for industry research productivity, with the number of novel medicines cleared for marketing already exceeding 2010 figures. Further, Fitch estimates that the majority of new treatments introduced this year, both general and specialty medicines, may reach blockbuster status.

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