Pharma Sales To Grow Beyond $1 Trillion
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The Intellectual Property and Science business of Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals released of the 2015 CMR Pharmaceutical R&D Factbook, the biopharmaceutical industry’s leading resource of global R&D trends.
Despite concerns around declines in R&D, the analysis identifies a surge in global sales with 2014’s $1 trillion milestone and forecasts sales to reach $1.3 trillion by 2018. It also reveals a positive shift in new molecular entities (NMEs) with 46 launches in 2014; the highest in over a decade.
“This is an extraordinary year for the pharma,” said Basil Moftah, president, Thomson Reuters IP & Science. “Not only do the critical insights provided by the Factbook challenge negative perceptions, but it demonstrates this industry’s continued commitment to creating and employing innovative solutions to tackle its largest hurdles.”
Diversification increases NME launches: One third of 2014 launches were for rare indications, mainly within Anti-cancer. More than 65 percent were specialty drugs for the treatment of Anti-cancer, Hepatitis C Virus and HIV.
Anti-cancer dominates: Anti-cancer development continues to attract the highest amount of investments across all therapeutic areas; with the majority of recent launches receiving orphan drug status from regulatory authorities.
Increase in failing fast and cheaply: Phase III pipeline volumes are steadily growing due to the improved ability to “fail fast and cheaply,” increasing the speed of potentially successful compounds through development.
Since 2003, the CMR Pharmaceutical R&D Factbook has been built in collaboration with leading global pharmaceutical companies to assess productivity and to provide insights to strengthen planning and the effectiveness of R&D. It is based on proprietary, primary sources, competitive intelligence, and public sources covering key trends across the landscape, including R&D pipeline volume, success rates, cycle times, regional comparisons, therapeutic areas, and generics.