A report by Evaluate Pharma estimates prescription drug sales will hit $1.18 trillion by 2024, driven by cell and gene therapies.
Humira’s dominance continues as the world’s top-selling prescription product as the biologic therapy is the first drug to exceed $20 billion in annual global sales.
Merck & Co. Inc. said the combination of the drugmaker’s cancer immunotherapy Keytruda with Pfizer Inc.’s Inlyta cut the risk of death nearly in half for patients with the most common form of kidney cancer when compared with treatment with the chemotherapy drug Sutent.
CVS Health Corp. – a top U.S. manager of pharmacy benefits – added new migraine drugs from Teva Pharmaceutical Industries Ltd. and Eli Lilly and Co. to the PBM’s list of covered drugs, excluding a rival treatment from Amgen Inc.
Eli Lilly’s shares fell after the cancer treatment Lartruvo – approved on an accelerated basis in 2016 – failed to improve patient survival in a long-term study and will no longer be prescribed.
Swiss drugmaker Roche is breaking into hemophilia A treatment, a $10 billion global market dominated by rivals who have cultivated close ties to sufferers of the genetic bleeding disorder.
A European Medicines Agency panel recommended approval of Spark Therapeutics’ gene therapy Luxturna for blindness, a move that also boosts Swiss drugmaker Novartis that bought the rights to one of the world’s costliest treatments outside the United States.
The U.S. Food and Drug Administration approved Kala Pharmaceuticals Inc.’s treatment for reducing inflammation and pain following an eye surgery.
AbbVie’s biologic therapy Humira for autoimmune disorders continues to dominate the sales landscape; Gilead’s once-daily hepatitis C treatment Harvoni in 2016 repeated its performance as the world’s second-best-selling prescription medicine.
Spending on prescription medicines in the United States will increase 4-7 percent through 2021, reaching $580 billion to $610 billion, according to a report released by QuintilesIMS Holdings.