PREVIEW-Dark clouds loom on Big Pharma horizon

* Global pharmaceuticals Q2 results kick off next week

* Sector faces patent expiries, US healthcare reform

* Some more consolidation possible

By Sam Cage

ZURICH, July 10 (Reuters) - Big Pharma initially coped better than other sectors with recession but has begun to underperform, and bleak prospects of more competition, problems getting new drugs to market and cheaper medicines are looming on investors' radars.

There are few long-term reasons for the world's biggest pharmaceuticals makers to be optimistic as they approach second-quarter results, but analysts still expect solid earnings growth from many though volatile currencies make predictions tough.

"The sector is going to be in for a rough ride in the next decade," said Andrew Weiss, analyst at bank Vontobel in Zurich.

"Some of these major players are going to be smaller companies in the next decade," Weiss said. "They've failed now for nine years to develop exciting pipelines."