Abstract
Breast cancer remains the most common malignancy amongst women in the western
world, and with the continual and steady increase in incidence, it is clear that
this market holds huge commercial potential. Thus, it comes as no surprise that
companies are continuing to place significant focus within this area and huge
investment into research and development of new therapeutics.
What is desired is a highly efficacious therapy combined with a low side
effect profile and with the advent of novel and targeted therapies such as
monoclonal antibodies and cancer vaccines, this dream may become much more
realistic with time. The challenge for companies is not only to bring a drug
successfully through the development process but also to convince the payers
that the high price of such novel therapies is justified, with increased
survival time, reduced hospital and support therapycosts. Gaining a premium
price is certainly not easy. An innovative product attracts many uncertainties
to the budget of the payer, namely the actual treatable population and the
product's place in treatment regimes. This can lead to a conservative stance on
the part of the payer in terms of reimbursement, particularly restricting the
product to certain indications.
Next comes the challenge of winning over the end users and ensuring product
uptake. Oncologists may be reluctant to prescribe therapies that they are
unfamiliar with and unclear of the benefits and risks associated. Not only that,
but the restrictions on healthcare spending may also deter from prescription,
especially those therapies that do not offer significant survival benefits.
Novel therapies have yet to make a major impact. Instead, the market is
dominated by cytotoxics, such as Taxol from BMS. However, market dynamics are
set to change, with generic companies poised to enter the market, This will
likely necessitate a reduction in the price of branded drugs in order to
compete.
View Cart
