Evaluate Group’s EP Vantage pharma and biotech preview of 2018 predicts that the uptick in the pharmaceutical and biotech sectors that occurred in 2017 is likely to continue into 2018.
Evaluate's EP Vantage pharma and biotech preview of what’s in store for the industry in 2018 predicts that the uptick in the pharmaceutical and biotech sectors that occurred in 2017 is likely to continue into 2018, with more new medications expected to hit the market and with investors’ support for biopharma remaining strong. In addition, global demographic trends signal a rising demand for healthcare and medications. EP Vantage is the editorial arm of Evaluate Ltd, which provides commercial intelligence forecasts within the global life science industry.
New medicines are reaching the market more quickly than ever before, the report notes, with large and small drug developers successfully launching “transformative” products in a number of therapy areas over the last few years. The report cites the current business-friendly environment at the FDA as supporting the industry and being unlikely to change in the next year. FDA Commissioner Scott Gottlieb, MD, has been widely embraced by industry and investors. The FDA is on track to approve 43 novel drugs before the close of 2017, those drugs are forecast to generate a combined $32 billion in US sales in 5 years, and the FDA is now perceived as allowing greater leniency in its approval process (though the FDA strenuously denies that it has lowered hurdles for approval). The report cites Amicus’s Fabry disease treatment migalastat (Galafold) as an example of a “friendlier” FDA.
The report highlights the following key points: