As the article states, you don’t need marketing for cancer drugs, as the need is unfortunately already there, thus marketing for cancer drugs does not necessarily carry the same sales expense as do other drugs.
We have all seen the “tiered plans” on what level drugs are listed with insurance coverage. A good program to use on a PDA is Epocrates to locate drug information and see where they do fall in the process. A big part of the issue is risk management algorithms to determine whether or not to approve some drugs, as it is still largely a business of science, and with science it is hard to define risk management, especially at the rapid pace we are moving at today, and as genomics enter the picture with personalized medicine, perhaps at some point there will be better answers for all. It is not cheap to develop cancer drugs by any means and with the fact that grants are becoming a bit more difficult to secure, the venture capital money is imperative to further research, but like anyone else today, a return on investment is desired in a very shaky but yet innovative world of development. BD
At some point—and that point will come sooner rather than later—payers are not going to approve spending $100,000 for someone to live an extra six months," says Erik Gordon, director of biomedicine at Stevens Institute of Technology. David Balekdjian, a partner at strategy consulting firm the Bruckner Group, confirms that "for many diseases, U.S. insurers are rigorously examining the outcomes new drugs produce, relative to their cost." As insurers increasingly scrutinize cancer drugs, "many will never reach their markets," Balekdjian warns.
Genentech's (DNA) Avastin costs up to $100,000 a year. Erbitux, ImClone's only marketed drug, costs around $10,000 a month and pulled in revenues of $1.3 billion in 2007. That's why Lilly is willing to make its largest acquisition ever, and why Pfizer is exiting heart drugs in order to focus on treatments for cancer, as well as Alzheimer's and diabetes.
At some point—and that point will come sooner rather than later
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