The seemingly incessant reports about the pharmaceutical industry are starting to hurt their bottom lines, according to this article in the New York Times:
The major drug makers remain highly profitable. But at some, including Pfizer and Merck, the largest and third-largest American companies in terms of revenue, sales are stagnant and profits are falling, leading to layoffs and - for the first time in years - cuts in research budgets.
And when budget crunches come, I'd expect to see CME dollars start to dwindle, too. Hope I'm wrong.