Report underscores value of innovation for patients with unmet medical needs
WASHINGTON, Jan. 17, 2013 /PRNewswire-USNewswire/ -- The biopharmaceutical pipeline is innovative and robust, with a high proportion of potential first-in-class medicines and therapies targeting diseases with limited treatment options, according to a new report released today by the Pharmaceutical Research and Manufacturers of America (PhRMA).
Watch PhRMA's live webinar about the report today at 12:00 pm EST.
The report, developed by the Analysis Group and supported by PhRMA, reveals that more than 5,000 new medicines are in the pipeline globally. Of these medicines in various phases of clinical development, 70 percent are potential first-in-class medicines, which could provide exciting new approaches to treating disease for patients.
"Biopharmaceutical companies, working with other partners in the American research ecosystem, have made incredible progress in helping confront some of the most challenging and costly diseases facing patients around the world," said John J. Castellani, president and CEO, PhRMA. "With more than 5,000 medicines in development for patients suffering from a wide range of diseases, there is a palpable excitement around the biopharmaceutical pipeline and the future opportunities for new, cutting-edge medicines to improve patient care and bring value to the entire U.S. health care system."
Many of the new medicines in the pipeline are also for diseases for which no new therapies have been approved in the last decade. For example, there are 158 potential medicines for ovarian cancer, 19 for sickle cell disease and 41 for small cell lung cancer.
Additionally, among other data in the report, the authors found that personalized medicines account for an increasing proportion of the pipeline, and the number of potential new medicines for rare diseases averaged 140 per year in the last 10 years compared to 64 in the previous decade.
"Since 2005, the number of new medicines in development has grown by 40 percent," said John Lechleiter, Ph.D., chairman of PhRMA and chairman, president, and CEO of Eli Lilly and Company. "Our industry has been able to advance scientific discovery – along with the roster of potential new medicines – thanks, in part, to a policy environment that enables medical innovation to flourish. Public policies that value intellectual property, a strong regulatory system, and free market access for patients are critical to maintaining a robust innovation ecosystem and continuing to make progress fighting disease."
"On the eve of the presidential inauguration and in the midst of challenging fiscal pressures, we should renew our focus on the benefits of medical innovation for patient care, the economy and U.S. jobs," continued Castellani. "The President has continually stressed the importance of innovation as a cornerstone to improving health and the U.S. economy, but to achieve these goals, we need patient-centric policies and continued collaboration among the public and private sectors."
The biopharmaceutical research sector currently supports nearly four million jobs in the U.S. and the overall impact of the sector on the domestic economy is $917 billion annually. What's more, over the last decade, PhRMA member companies alone have invested $500 billion in research and development of new therapies for a wide range of diseases such as diabetes, heart disease and HIV/AIDS.
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested over $500 billion in the search for new treatments and cures, including an estimated $49.5 billion in 2011 alone.
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For information on how innovative medicines save lives, visit: http://www.innovation.org
For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org
For information on ensuring the flow of medicines during public health emergencies, visit http://www.rxresponse.org
SOURCE Pharmaceutical Research and Manufacturers of America