Printer Friendly

Cancer drugs could reach $80 billion by 2011: IMS.

Cancer Drugs Could Reach $80 Billion by 2011: IMS. Sales of cancer drugs will grow at nearly double the rate of the global pharmaceutical market and could hit $80 billion by 2011, according to IMS Health Inc. (Norwalk CT), which tracks prescription drug sales. 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%, IMS said. In 2008, sales of oncology products will exceed $48 billion, contributing nearly 17% of global pharmaceutical sales growth this year, according to the IMS Global Oncology Forecast released last Thursday. "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.

IMS 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. Data from clinical studies of many of the newest cancer drugs will be presented and discussed later this month in Chicago. Several factors could serve to moderate growth over the next five years, IMS said. They include financial constraints of payers, slowing growth of some current blockbuster therapies and patent expirations of four cancer drugs with annual sales exceeding $1 billion, including Eli Lilly & Co.'s (Indianapolis IN) Gemzar and Taxotere from France's Sanofi-Aventis SA.
COPYRIGHT 2008 MedContent Media, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:TOP STORIES
Publication:MondayMorning
Article Type:Brief article
Geographic Code:1USA
Date:May 19, 2008
Words:281
Previous Article:Sunrise Senior Living Inc's (McClean VA) first-quarter revenue under management rose 11% as the company opened new facilities and increased occupancy...
Next Article:Merck says appeals court overturns Vioxx verdict.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters