Key Trends and Characteristics of the Cytostatic Industry

In an article written by oncologist Lacie Glover, her concern was about the rising cost of cancer treatment, newly approved cancer drug costs of an average of $10,000 per month, and therapy costs averaging $30,000 per month. A patient typically pays 20-30% out of pocket for drugs. Therefore, the year’s average cost of new cancer medications would $26,000-$36,000, in addition to their health insurance premiums. If you wonder why insurance premiums are constantly on the rise, reflecting on the illnesses and costs to treat them.

Improvements in health care and life sciences are an important source of gains in health and longevity globally. The development of innovative pharmaceutical products plays a critical role in ensuring these continued gains. To encourage the continued development of new drugs, economic incentives are essential. These incentives are principally provided through direct and indirect government funding, intellectual property laws, and other policies that favor innovation. Without such incentives, private corporations, which bring to market the vast majority of new drugs, would be less able to assume the risks and costs necessary to continue their research and development (R&D). In the United States, government action has focused on creating the environment that would best encourage further innovation and yield a constant flow of new and innovative medicines to the market. The goal has been to ensure that consumers would benefit both from technological breakthroughs and the competition that further innovation generates. The United States also relies on a strong generic pharmaceutical industry to create added competitive pressure to lower drug prices. Recent action by the Administration and Congress has accelerated the flow of generic medicines to the market for precisely that reason. By contrast, in the Organization for Economic Cooperation and

U.S. based companies hold rights to most of the world’s rights on new medicines and holds thousands of new products currently being developed. As of 2012, the industry helps support almost 3.4 million jobs in the U.S. economy. It is also one of the most heavily R&D based industries in the world. In the United States, the environment for pharmaceuticals is much friendlier than other countries around the world in terms of pricing ability and regulations. Both the Pharmaceutical and Biotechnology industries have experienced significant growth in the past year with year-over-year increases of 13.02% and 34.69% respectively. It is an even more striking when looking at the past five years considering both have beat out the S&P 500 with pharmaceuticals increasing an additional 31.44% and the biotechnology sector besting an astonishing 269.3% more return than the

3. No new drugs are to be available in the market for this indication in the next 5 years so it makes the product very lucrative.

A Kaiser Health tracking poll found 72% of Americans believe that drug costs are overwhelming, and 74% of Americans think Big Pharma cares more about money than patients (Elkins). There are many different costs associated with cancer for instance; doctor appointments, treatment, medication, transportation and travel, family and living expenses, caregiving, and employment issues (Understanding the Costs Related to Cancer Care). You can find ways to help cancer costs including: health insurance, fundraising, and financial assistance (Glover). Newley and approved drugs can cost anywhere from $10,000 a month to $30,000 per month (Glover). A British health journal found that 80 percent of cancer cases require surgery, less than a quarter of the people worldwide who need it will actually get safe, affordable, and timely procedures, less than 5 percent actually get it (Whelan). Cost issues don't only take an impact on your wallet, but your emotions, health, your time, and your relationships (Managing the Costs of Your Cancer Treatment). A report says the US could be short of as many as 4,000 oncologists by the year 2020, because the demand for treatment is growing faster than the rate of supply (Paddock). On the supply side, of particular concern are the large number of aging physicians heading into retirement. The physicians are being replaced

We anticipate potential competitions from organizations or other newly established companies developing new targeted therapies. We expect to compete with

The doctors who have wrote this article talk about how cancer drugs have their own prices in the united state. and how they follow their own economic rules. they show time table of how the cancer drug treatments went up past 15 years in the united states.

By 2020 the pharmaceutical market is anticipated to more than double to US$1.3 trillion, with the E7 countries — Brazil, China, India, Indonesia, Mexico, Russia and Turkey — accounting around for one fifth of global pharmaceutical sales. Further, incidence of chronic conditions in the developing world will increasingly resemble those of the developed world.

Can cancer drugs be affordable in America? As a pharmacy student interested in oncology, I am most concerned about the exorbitant prices of cancer drugs. Cancer drugs in the market are expensive and have high demand due to the fatal nature of cancer. I intend to change America in a way to make cancer care affordable.

Their project had always been regarded as a star and had received a lot of attention from management. They helieved they already had the best plan for the compound's development. They agreed, however, to look at the other alternatives during a brainstorming session. Several new ideas emerged. Under the buy-down alternative, the company would drop one of the product forms (oral) in one of the markets (tumor type B), saving $2 million. Under the buy-up alternative, the company would increase its investment by $5 million in order to treat a third tumor type (C) with the intravenous form. When the value of those alternatives was later quantiMarch-April 1998

At Eli Lilly and Company (Lilly), patent expiration is part of everyday business. However, Prozac, Lilly’s flagship product and market leader in the most popular class of pharmaceuticals used to treat depression – the selective serotonin reuptake inhibitors (SSRIs) was definitely a cause for concern (Ofek & Laufner, p.1). Patent expiration meant that generics would flood the market and Prozac’s current $2 billion in annual sales would create a huge revenue gap (Ofek & Laufner, p.1). Although management at Lilly was actively seeking a successor to Prozac the road to pharmaceutical breakthroughs is

The drug pricing is so high, because in the america is free market. And it takes about billion dollars for a medication to become available to the consumers. I found it on the oncologist website where they write all their review about upcoming medications and drugs.

The pharmaceutical market is said to grow at a CAGR of 2.7% from 2011-2016 which will plummet the market to a value of 299.5 US billion dollars by the end of 2016.

In order for a new cancer drug to go from concept to market it must first go through the following FDA approval process to get there. This process can take up to 12 years and cost a drug manufacturer well over 350 million dollars.2 The steps are Preclinical research, the Investigational New Drug (IND) application, Phase I Trials, Phase II Trials, Phase III Trials, the New Drug Application (NDA), Approval, and Phase IV Clinical Trials.1 The FDA regulates this process to ensure that drugs are safe and effective. Getting new drug approval is “one of the most difficult processes in the world.”1

The research and development of the pharmaceutical industry is very important as the industry relies on it to develop new products to maintain and sustain the growth of the industry (ALRC 2014). According to the Australian Government Law Reform Commission, every year, the total spending in research and development in pharmaceutical industry, which includes drug discovery, pre-clinical testing and clinical trials on drugs is around $300 million (ALRC 2014). Mergers and acquisitions are intensifying in the global pharmaceutical industry, especially over the last 10 years. With factors like exorbitant research and development costs, the relatively shorter product life cycles, and the rarity of discovering a new life-changing drug acting as catalysts, leading pharmaceutical companies now have more cause to step out and look for external collaboration. This results in an increasing number of smaller biotechnology companies merging with bigger pharmaceutical companies (The