OR WAIT null SECS
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November 05, 2015.
With 2020 worldwide sales forecast at $178 billion, the orphan drug market is expected to grow by 11.7 percent per year (CAGR 2015 to 2020), nearly doubling the yearly growth of the overall prescription drug market, according to Evaluate Ltd.'s EvaluatePharma Orphan Drug Report 2015. Moreover, worldwide orphan drug sales will account for 20.2 percent of worldwide prescription sales by 2020 (excluding generics), the report states. EvaluatePharma analyst Andreas Hadjivasiliou commented: "Up until now, orphan drug developers have managed to defend the cost of these life-changing drugs but with the increasing scrutiny over drug costs and the growing number of designations awarded, orphan drug developers will have to continue to innovate and demonstrate how their products can help reduce the overall healthcare budget.” The report also states that: • Median cost per patient is 13.8 times higher for orphan drugs compared to non-orphan; Advate delivers highest revenue per patient orphan drug in US. • Celgene overtakes Novartis and climbs to the number one position in orphan drug sales by 2020 thanks to top selling Revlimid. • 2014 was a record year for orphan drug designations with the FDA awarding 291, Europe awarding 201 and Japan awarding 32 designations.
• Opdivo ranks as the most promising new orphan drug approved in the US in 2014 while Obeticholic Acid (Intercept Pharmaceuticals) ranks as the most valuable R&D product.
The report can be accessed at www.evaluategroup.com/Orphandrug2015.