RE:RE:Inflation Reduction Act (IRA) boosts biological drugs July 11, 2023 - Increasing longevity and the resulting healthcare opportunity are seen as one of four unstoppable trends reshaping the world and transforming the ways we live and work, according to Julie Koo of Citi Global Wealth Investments.
"Over the last few years, technological innovation has disrupted multiple sectors including healthcare. We’re seeing tremendous innovation in industries such as biotech, leading to new treatments to address fatal diseases like cancer. Immune oncology, for example, is helping to treat cancer by tapping into a patient’s immune system to detect and destroy harmful cells. This is a significant improvement over treatment methods such as chemotherapy and radiation.", Koo continued to say.
Ken Takeshita of Daiichi Sankyo says: “Advancements in the understanding of disease at both the molecular and cellular level are among the main reasons why we have seen significant improvement in the treatment of certain diseases, such as cancer and hereditary illnesses.”
"Beyond ADCs, we have collaborated with academic researchers to launch the first oncolytic virus in Japan for patients with malignant glioma. We have also gained extensive experience in the clinical development and manufacturing of a CAR T-cell therapy, through a partnership with a global leader in cell therapy", Takeshita said.
"It takes approximately 10 to 15 years and more than US$2.6 billion on average, to bring a new (small-moleccule) medicine to market, according to the Pharmaceutical Research and Manufacturers of America (PhRMA)." - Takeshita added.
The PhRMA represents the (small molecule) pharmaceutical industry in the United States.
https://www.businesstimes.com.sg/wealth/banking-healthcare-innovation