Will agencies create their own rainbow?

Someone recently told me that spending by Pharma on advertising, medical education and the like is down by 60%. I don't know if this is true, but I think everyone will agree that, due to the economic situation, pharmaceutical companies are spending less. This leaves agencies with a problem: what do you do when your clients are spending less? Is there any point in trying to get a client to spend more when you know their resources are limited? Or is a change in focus needed?

When all pharmaceutical companies are spending less, should the focus be to get them to spend more or should it be to get more clients?

I think that with each client having a limited pot, probably the most effective way for agencies to stay on track or increase profits is to win more business i.e. several small pots = one big pot. Another strategy would be to diversify your offering i.e. greater access to more pots.

I have not forgotten the costs inherent in pitching for new business or in creating a broader offering. However, could these costs in the short-term not be more effective in generating profit than trying to cajole clients to spend money they don't have?