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Diaceutics, a medtech company enabling patient testing globally, announced research results that show over 156,000 cancer patients in the U.S. and Europe could be missing out on targeted life-saving drugs because of suboptimal diagnostic testing. It also found that substandard testing practices cause pharma companies in the U.S. and Europe to possibly miss out on up to $16.6 billion in potential revenue each year.
Diaceutics’ research also found that even four years after new diagnostic tests become available, just 50% of patients that may be eligible for precision drugs will have been tested by their physician.
About 1.7 million cancer patients in the U.S. and Europe undergo tests each year to determine if there are precision drugs available that are likely to work well with their genetic makeup more so than more commonly prescribed drugs. Suboptimal testing practices such as delayed reporting of test results, false negatives, and sample management issues, could affect potential opportunities for patients and pharma companies.