Venture Capital Shifts Attention To Rare-Disease Meds
According to a report released by BIO, a biotechnology trade group, these medicines are often more expensive but get less insurer push back because less-expensive alternatives are scarce. In addition, new glaucoma treatments are poised to shake up the multi-billion dollar market.
The Philadelphia Inquirer:
Venture Capital Shifts To Specialty, Rare-illness Drugs
Venture-capital funding of drug research and development has shifted in recent years to specialty and rare-disease medicines, according to a report released Monday by BIO, the biotechnology trade organization. Those medicines often carry high price tags that insurers have thus far fought less than some other drugs because there are no or few alternatives. (Sell, 2/10)
Reuters:
New Wave Of Drugs Poised To Shake Up Glaucoma Treatment
For the first time in 20 years, patients suffering from the eye disease glaucoma may soon have new treatments as several young companies look to shake up the $5.6 billion global market. There is no cure for glaucoma, which damages the optic nerve and is expected to affect more than 4 million Americans by 2030, up from 2.7 million today. But treatments help patients manage the disease and may prevent the onset of blindness. (Clarke, 2/10)
In other industry news -
Bloomberg:
Quitting Smoking Has Been Just Fine For CVS
CVS Health Corp., the largest provider of prescription drugs in the U.S., posted fourth-quarter earnings that beat analyst estimates as demand for drugs outweighed the drop in revenue from a decision to stop selling tobacco products. CVS stopped selling cigarettes in September, making the fourth quarter the first full financial period without any tobacco-related revenue. CVS previously generated about $2 billion annually in tobacco sales. (Cortez, 2/9)
