Cancer drug pricing is turning more and more heads, especially as critical payers threaten a crackdown in the oncology field. And there's a reason for all the hullaballoo: Spending on oncology meds is increasing rapidly, new IMS numbers show.
When surveyed about their outlook, pharma industry leaders said they felt plagued by uncertainty and beaten down by budget cuts. More than half worried they would receive pink slips by the end of this year. But some more optimistic execs predicted new investment in their departments, and many figured staffing levels will endure, at least for this year.
Over the past two years IMS Health has counted 22 new cancer drugs on the market, a hefty portion of all new drug launches over that period. And by their calculations, the boom is just beginning.
The IPO was priced at $20 a share--above the midpoint of the range--and rose when trading began on Friday.
While the red-hot biotech initial public offering (IPO) market has grabbed headlines over the past year, tech companies that service these businesses have also cashed in. IMS Health signaled its intent to hop aboard the bandwagon at the start of the year, and it is now reportedly weeks away from going public.
The worst of the patent cliff has now passed, but IMS Institute for Healthcare Informatics has some bad news for the top 17 pharma companies: You still need to slash $36 billion from annual operating costs.
Inherent conservatism and a lack of regulatory guidance have caused pharma to edge slowly onto social media platforms. Yet patients still talk about their health online. Should drugmakers be listening?
The IPO could raise up to $100 million as TPG Capital Funds and other investors look to cash in on the business they took private in 2010 in a $5.2 billion deal.
The headline number in the latest drug-spending report from IMS Institute for Health Informatics is this: $1 trillion. Next year, the world market for prescription drugs will pass that lofty threshold. By 2017, the market will swell further to $1.2 trillion. That's an increase of up to $260 billion over the next 5 years.
Major tech and services firms would love for pharma to give cloud computing a wholehearted embrace, but the reality is that cloud software and services have trickled into the spending plans of drugmakers as they slowly warm up to web-based systems.