The latest report from Tufts (to no one's surprise) confirms that the biotech drug market continues to grow and is now dominating new drug development. The report spews forth a series of updated facts:
- Biotech drugs accounted for only 7% of revenue from top 10 drugs in 2001 but represent 71% of te top 10 revenue in 2012
- Biotech drugs in clinical trials grew 155% in 11 years from 355 trials in 2001 to 907 in 2012 and Big Pharma is involved in about 40% of those
- Biotech research spending increased from $10.5 B in 2001 to a whopping $103 B in 2012 (that looks like total pharma R&D spending to me but that's what report said)
- Biotech drug product sales grew 353% between 2001 and 2012 to reach $163 B
The study authors note that the concept that pharma companies develop small molecules is no longer true. Both new technological development enabling these bio drugs and he closing patent window on small molecules has contributed to this shift. See PharmaTimes.
Posted by Bruce Lehr Nov 15th 2013.