July 25, 2016
Amid the din of drug-pricing tussles, rapid scientific advancements are nurturing individualized anticancer approaches and sharpening the view of cancer’s underlying biology
Science-wise, the oncology sector has been hitting it out of the park with solutions promising improved survival with lower toxicity for some patients. Alas, it’s not all about the science: Biopharmaceutical companies with a large presence in the sector are getting snared in widespread pricing complaints, overwhelming data hurdles, and climbing development costs.
The global oncology market is riding a steady growth trajectory, with little sign of stopping. Oncology drug spend soared to $107 billion worldwide in 2015 and is projected to reach $150 billion by 2020, according to figures from IMS Health.