This excerpt taken from the ELN 20-F filed Mar 30, 2006.
World Pharmaceutical Market
IMS audited global pharmaceutical sales increased by 7% from 2004 to $602.0 billion in 2005. In 2004, IMS audited global pharmaceutical sales also increased by 7% over 2003. Biotech products accounted for 9% of global sales in 2005 and account for 27% of the active research and development pipeline.
North America, Japan and Europe accounted for approximately 82% of global pharmaceutical sales in 2005, compared to 88% as in 2004. North Americas pharmaceutical sales grew 5% to $265.7 billion, representing 44% of all global pharmaceutical sales in 2005.
The U.S. market is our most important market. Please refer to Note 28 to the Consolidated Financial Statements for an analysis of revenue by geographic region. For this reason, the factors discussed below, such as Government Regulation and Product Approval, place emphasis on requirements in the United States.