More than 5,000 new medicines in development
Many of the new medicines in the pipeline are also for diseases for which no new therapies have been approved in the last decade. For example, there are 158 potential medicines for ovarian cancer, 19 for sickle cell disease and 41 for small cell lung cancer.
The authors of the report found that personalized medicines account for an increasing proportion of the pipeline, and the number of potential new medicines for rare diseases averaged 140 per year in the last 10 years compared to 64 in the previous decade.
"Biopharmaceutical companies, working with other partners in the American research ecosystem, have made incredible progress in helping confront some of the most challenging and costly diseases facing patients around the world. With more than 5,000 medicines in development for patients suffering from a wide range of diseases, there is a palpable excitement around the biopharmaceutical pipeline and the future opportunities for new, cutting-edge medicines," said John J. Castellani, president and CEO, PhRMA.
The biopharmaceutical research sector currently supports nearly four million jobs in the U.S. and the overall impact of the sector on the domestic economy is $917 billion annually. What's more, over the last decade, PhRMA member companies alone have invested $500 billion in research and development of new therapies for a wide range of diseases such as diabetes, heart disease and HIV/AIDS.
"Since 2005, the number of new medicines in development has grown by 40 percent. Our industry has been able to advance scientific discovery – along with the roster of potential new medicines – thanks, in part, to a policy environment that enables medical innovation to flourish," said John Lechleiter, chairman of PhRMA and chairman, president, and CEO of Eli Lilly and Company.
“On the eve of the presidential inauguration and in the midst of challenging fiscal pressures, we should renew our focus on the benefits of medical innovation for patient care, the economy and U.S. jobs... "e need patient-centric policies and continued collaboration among the public and private sectors," added Mr. Castellani. ■