Report estimates sales of cancer drugs to hit $80 billion in four years
NEW YORK According to IMS Health, sales of cancer drugs will grow at nearly double the rate of the global pharmaceutical market and could reach $80 billion by 2012, as reported by Reuters.
Expensive new treatments, an increasing number of patients on chemotherapy in major markets and evidence that more people in emerging markets are gaining access to modern targeted therapies will contribute to sales of cancer drugs growing at a compound rate of 12 to 15 percent, IMS said.
IMS also expects growth to be fueled by the introduction of 25 to 30 new chemical entities between 2008 and 2012, as expensive new biotechnology drugs and the increasing use of combination therapies contribute to the exploding cost of treatment.
“Double-digit sales growth in oncology drugs will be fueled by increased use of targeted therapeutic agents introduced over the past 10 years, along with first-time innovations coming to the market and longer treatment periods for growing numbers of patients,” Titus Plattel, IMS vice president for oncology, said in a statement.
In 2008, sales of oncology products will exceed $48 billion, contributing nearly 17 percent of global pharmaceutical sales growth this year, according to the IMS Global Oncology Forecast released on Thursday.
Study finds more than half of Americans regularly take prescription meds
FRANKLIN LAKES, N.J. For the first time, a majority of Americans with health insurance have some kind of chronic health condition, and young people have experienced the largest increases.
According to research released Wednesday by Medco Health Solutions that examined the prescription claims of around 2.5 million Americans, 51 percent of insured Americans took prescription drugs to treat chronic health problems in 2007. While the elderly still constitute the largest demographic such medications, nearly half of women aged 22 to 44 and a third of men in the same age bracket were also using them. Men and women in that age group experienced a 20 percent increase in use of drugs to treat chronic conditions between 2001 and 2007.
Among men in the 20 to 44 age bracket, drugs to treat hypertension and cholesterol were among the top four, showing an increase in heart disease in this group. Nearly 30 percent of children aged 19 and younger also took chronic medications, mostly to treat asthma, allergies, depression and attention deficit/hyperactivity disorder.
Avastin/Lucentis study may reverberate through industry
NORWALK, Conn. According to IMS Health, a new clinical trial that began this year by a research institute may change the relationship between payers and the pharmaceutical industry, the Financial Times reported.
The National Eye Institute has sponsored a $16 million head-to-head trial of Genentech’s drugs Avastin and Lucentis. Lucentis is approved to treat age-related macular degeneration and Avastin is used to treat cancer but, both drugs are very similar and physicians have been using Avastin off-label for AMD.
The problem with the off-label use is the cost, as a single dose of Lucentis costs $2,000 while a bottle of Avastin can be split up to cost only $40-$75 per injection.
IMS argues that if CATT, the Institute’s study, shows Avastin to be as safe and effective for AMD as Lucentis, it may pave the way for an increasing number of payers to take comparative drug studies out of the hands of the pharmaceutical companies, especially as databases of patients make it much easier to conduct such tests.
But it warns that the move may create a disincentive for companies to study such areas, and creates untested areas of who would approve Avastin for AMD following a late-stage Phase 3 clinical trial which was conducted without any of the usual early-stage testing regulators usually require.
The study is expected to conclude in 2010 and has no involvement with Genentech.