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.
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