The good news for pharma companies is that according to a recent report from PhRMA, 74% of medicines in clinical development are potentially first-in-class medicines. Some other findings: 822 projects—defined as unique molecule-indication combinations—are designated by the U.S. FDA as orphan drugs; 529 projects are using cell therapy; 202 projects are using gene therapy; and 173 are using DNA or RNA therapeutics. Recently, we’ve all had our fill of drug pricing commentary, and if the 74% holds true through approval, it will put the biopharma industry in a strong position to defend pricing strategies. While there are silver medals in some competitions, coming in second in the drug development race can be catastrophic. Maybe Ricky Bobby was right.
BTW, if you’re personally looking for something to be first in, we’re in the second week of our testimonial contest. Email us (firstname.lastname@example.org) a funny testimonial about why you love (or hate?) our newsletter—130 words or less, just like our writers have to do. The knee-slappingest, ROFLMAO-iest testimonial will win a $50 prepaid gift card. And we’ll send your write-up out in one of our newsletters—without your name, of course. You’ll be kinda famous, but in an anonymous sort of way. May the odds be ever in your favor.