Thomson Reuters Annual Pharmaceutical Factbook Projects Industry’s Sales Will Reach $1 Trillion in 2014
PHILADELPHIA, PA, US - Sep 8, 2014 - The Intellectual Property and Science business of Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today released its annual synopsis of pharmaceutical industry trends in its 2014 Pharmaceutical R&D Factbook, compiled by CMR International, a Thomson Reuters business and world leader in global pharmaceutical R&D performance metrics. The report found a number of positive trends across the biopharmaceutical landscape-including an all-time high in pharmaceutical sales and an increase in New Molecular Entities (NMEs) and in drugs successfully completing late stage clinical trials-that contradict industry perceptions of a decline in R&D productivity.
The CMR Factbook-a leading publication of pharmaceutical facts containing 11 chapters of essential data on R&D pipeline volume, success rates, cycle times, regional comparisons, therapeutic areas, generics and other areas-provides valuable strategic insight to pharmaceutical industry leaders. This years report underscores a promising industry outlook, as evidenced by:
• Global pharmaceutical sales highest ever:
Global pharmaceutical sales reached an all-time high of
approximately $980 billion in 2013 and are expected to rise to $1
trillion this year. However, the rate of growth declined in 2013
compared to previous years due to the expiration of patent
protection on a number of blockbuster drugs in markets dominated by
lower-cost generic equivalents.
• Third-most NMEs or novel drugs launched in last
decade: The number of NMEs launched in 2013 was the third-highest
in the last decade. Regulators and payers are demanding safer, more
effective and differentiated drugs to try to contain the rising
costs of healthcare. The industry continues to respond to these
challenges by diversifying into areas of unmet need and rare
indications. Approximately half of all drugs were specialty
indicated for the treatment of cancer, pulmonary arterial
hypertension and HIV. All oncology NME first-world launches in 2013
received orphan drug status.
• Cancer treatment benefits from advances in
precision medicine: Anti-cancer development continues to attract
the highest amount of investment across all therapeutic areas, with
the majority of recent approvals receiving orphan drug status from
the FDA.
• Pharma increases rate of successful drugs by
improving ability to fail fast and cheaply: There has been a
decline in pipeline volumes and success rates in early clinical
development phases, yet there is a trend in stable success rates
across the later phases. This indicates that the industry is
improving its ability to fail fast, fail cheaply, which is
increasing the success rate of more advanced drug candidates.
Pharmaceutical R&D is a difficult and expensive process in an industry with high expectations, said Jon Brett-Harris, managing director of Thomson Reuters Life Sciences. With much of the recent conversation focused on the hurdles in the pharma space, it is reassuring to see positive developments and an encouraging future landscape.
Information published in the CMR Factbook was compiled by the Thomson Reuters Life Sciences Professional Services team. It is based on proprietary, primary sources, competitive intelligence, and public sources covering key trends in the pharmaceutical space. For more than 15 years, CMR International has worked with the leading global pharmaceutical companies to assess R&D productivity and provide insights into industry trends to strengthen planning and effectiveness of R&D. CMR International has published the pharmaceutical R&D Factbook, an annual report for the pharmaceutical R&D sector providing a reliable source of key reference metrics, since 2003.
Learn more about the CMR Factbook and Thomson Reuters Life Sciences Professional Services.
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