“We’re sitting on the edge of an enormous amount of innovation that is really going to transform the landscape for providers, for patients, and for those companies bringing these products to market,” says Murray Aitken, executive director of the IMS Institute. Below are some highlights from the report.
1. Cancer patients are living longer.
In 1990, half of cancer patients survived for five years after diagnosis. Now, two-thirds do, the result of slow, gradual innovation.
2. The U.S. spends the most on cancer drugs as an absolute amount.
The biggest increase on a percentage basis was in the U.K.; the lowest was in Spain.
3. But Europe spends more on cancer drugs as a percentage of total spending on medicines.
4. What’s next: a flood of cancer-drug-combinations.
5. Roche is developing the biggest number of combos by a wide margin.
Merck, Bristol-Myers Squibb, and Novartis come next. The figures in blue are for drug combos that include medicines that are already approved made by another company; those in teal include multiple experimental drugs from just a single company; those in purple are testing a new drug with an approved one, both from the same company; those in red test two experimental drugs from different companies.
6. More cancer drugs are approved in the U.S. than anywhere else.
Put differently, if a cancer drug is approved anywhere, it is most likely to be approved in the U.S.
7. All these new cancer drugs come at an economic price.
The cost per month for a new cancer drug has increased 40%, or $5,900, over the past decade.
8. More of these costs are being borne directly by patients themselves, not just insurance companies.