Decision Resources projects growth in targeted cancer drug market
WALTHAM, Mass. The market for drugs that fight cancer by focusing on specific molecules, proteins and enzymes linked to it will reach more than $50 billion in five years, according to analysis by market research firm Decision Resources.
The firm announced Thursday the release of a report, “Strategic Overview of the Targeted Cancer Therapies Marketplace,” showing that the drugs, known as targeted cancer drugs, would rise from a $25 billion market in 2008 to $51 billion in 2015.
Roche and Genentech, now a single company operating under both names, led the market in 2008, along with Novartis and Bristol-Myers Squibb Co. Competition is set to increase, however, as more players enter the market; currently, 142 companies are developing targeted cancer therapies. Currently, for example, Pfizer has one targeted therapy on the market, the kidney cancer drug Sutent (sunitinib malate), but it has many more in its pipeline, and Decision Resources expects its portfolio of the drugs to be worth $3 billion by 2015.
“Pfizer’s focus on targeted cancer therapies will pay dividends,” Decision Resources analyst Barbara Bolten said in a statement. “In 2005, Pfizer marketed no targeted oncology therapies, but by 2015, we expect it will be a multibillion-dollar player in this space.”
Duane Reade opens fifth walk-in medical clinic in New York
NEW YORK A new walk-in clinic at a Duane Reade store in Chelsea officially opened on Wednesday, making it the fifth Duane Reade location with “Doctor on Premises” walk-in medical care.
The physician-staffed clinic is managed by Consumer Health Services and is also affiliated with Beth Israel Medical Center and St. Luke’s-Roosevelt Hospital Center. It is open Monday through Saturday, 10 a.m. to 6 p.m., and accepts most insurance plans.
“Walk-in, neighborhood-based medical care is a growing trend in this country, and it’s a very positive trend,” stated Dr. Maggie Bertisch, M.D., medical director for New York Walk-In Medical Group PC. “It allows healthcare providers to offer a more convenient, affordable alternative to crowded emergency rooms, while delivering safe, quality medical care in a New York minute.” According to CHS, Duane Reade is planning to add more on-site health clinics in 2010.
As reported, Walgreens, which owns retail-based clinic operator Take Care Health Systems, announced on Wednesday that is has reached an agreement to buy Duane Reade in a deal valued at nearly $1.1 billion.
Hi-Tech Pharmacal, Mission Pharmacal to market new kidney stone treatment
AMITYVILLE, N.Y. Hi-Tech Pharmacal and Mission Pharmacal Co. are planning to market a new treatment for kidney stones to doctors starting in April, the drug maker announced Wednesday.
Under a license agreement between the two companies, Hi-Tech will promote UroCit-K 15mEq (potassium citrate) extended-release tablets to primary care physicians through subsidiary ECR Pharmaceuticals, while Mission will promote it to urologists. The drug is a twice-daily treatment.
“We are pleased to introduce another unique prescription branded product to the primary care market,” Hi-Tech president and CEO David Seltzer said in a statement. “UroCit-K 15mEq is a highly effective product, available in a convenient dosing regimen which will increase patient compliance.”