Posted on June 28, 2013
ProMetic would like to bring to your attention some recently published data on the worldwide orphan drug market
According to the "Evaluate 2013 Orphan Drug Report" published earlier in 2013, the worldwide orphan drug market is set to reach $127 billion by 2018, accounting for nearly 16 % of total prescription drug sales. The sales are projected to experience a compound annual growth rate of 7.4% between 2012 and 2018, nearly double that of the prescription drug markets, excluding generics.
According to Evaluate's report, the findings confirm hypotheses that orphan drugs offer a greater return on investment than no-orphan drugs. Orphan drugs that have been filed for regulatory review or are in phase III trials provide a 1.7 times greater return on investment than non-orphan drugs. Moreover, EvaluatePharma's analysis shows that phase III development costs for orphan drugs are half of those of non-orphan drugs.
Amongst the report's key findings are:
- In 2012, orphan drug sales increased 7.1 percent to $83 billion from the previous year. That compares with a 2.1 percent decline in overall prescription drug sales (excluding generics), which fell to $645 billion.
- Novartis will maintain its position as the world's No. 1 orphan drug company in 2018, with expected sales of $11.8 billion.
- Kyprolis, a drug from Onyx Pharmaceuticals for multiple myeloma, was the most promising new orphan drug in 2012, with U.S. sales expected to reach $897 million in 2017.
- The number of orphan drug designations in the U.S. fell 7 percent in 2012 marking the first decline since 2007. Orphan designations in Europe increased 44 percent, reversing a decline in 2011.
- Of the 43 new drugs approved by the FDA in 2012, 15 were orphan drugs, representing 35 percent of the industry's new drug output.
Posted on March 1, 2013
ProMetic Life Sciences Inc. invites you to view the interview of Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc. on "Scully, the World Show". To view the interview, please click here.