Rare medicine market- ‘Blue Ocean’…. Pharmaceutical companies to target niche market
Kim Ji Seob | cloud50@ | 2017-04-26 10:48:57
The pharmaceutical industry is targeting niche markets by concentrating on marketable rare pharmaceuticals with a lot of government development support.
Rare pharmaceuticals can be licensed after Phase II clinical trials, subject to submission of phase 3 data, and monopolized by the market for up to 10 years without alternative drugs in Korea. Most countries, including the United States and Europe, are also benefiting from market monopolies and shortening licensing time for rare drugs.
The global pharmaceutical market is expected to grow from USD 97 billion in 2015 to USD 176 billion in 2020, according to Evaluate Pharma. The growth rate is 10.5%, double the 5.3% growth rate of the entire pharmaceutical industry. Rituxan, the world`s best-selling drug, Swiss Roche, reported revenue of USD 7.5 billion in 2015 and USD 5 billion in Revlimid drug for the treatment of multiple myeloma.
Rare pharmaceuticals are entering the blockbuster order of over KRW 10 billion in Korea. IMS Health announced that it has received a total of KRW 35.7 billion worth of drugs for the treatment of Parkinson`s disease (PNH) last year based on the outpatient prescription of IMS Health Healthcare. Hunter`s drug of Green Cross, Hunterase and A type hemophilia drug-GreenGene of KRW 26.8 billion and KRW 6 billion, respectively. Ildong Pharma`s Pirepa Spa, a treatment for pulmonary fibrosis, received KRW 14.0 billion, while Handok`s pulmonary arterial hypertension treatment, Traclear, was worth KRW 10.2 billion.
Pharmaceutical companies are also actively entering into overseas markets. Unlike other medicines, there are few concerns about competing with multinational pharmaceutical companies, and multinational drug makers are able to sell their products without multinational drug manufacturers. Green Cross exports Hunterase up to KRW 7 billion won on annual basis in eight countries including South America, the Middle East and North Africa. In order to enter the US market, which is the largest pharmaceutical market, Green Cross has two phases in the US. GreenGene F has been in phase 3 in the US until last year, but has been delaying its clinical trial schedule and has decided to focus on the Chinese market, and is currently in phase 3 in China with the goal of ending next year. Afstyla, a hemophilia treatment drug SK Chemicals, which was exported to Australia`s CSL, was approved for marketing in the US last year.
SK Biopharmaceuticulars is developing in the US such as Parkinson`s disease treatment (SKL-PD), acute repetitive seizure treatment (Plumiaz) and narcolepsy treatment (SKL-N05). In particular, when YKP 3089, an epilepsy treatment that will be launched next year and expected to be and will be commercialized, it is expected to generate annual sales of KTW 1 trillion in the US alone.
JW Choongwae Pharmaceutical has completed clinical phase 1 with a targeted chemotherapeutic agent (CWP291) for acute myelogenous leukemia and an additional 1b phase for patients with relapsed or refractory acute myelogenous leukemia. Bukwang Pharmaceutical Co., Ltd`s Parkinson`s disease cure (JM-010) has won the grand prize in Europe and is expected to proceed with the 2b phase in the US this year.
By Kim Ji Seob cloud50@
[ copyright ⓒ The Digitaltimes ]
Rare pharmaceuticals can be licensed after Phase II clinical trials, subject to submission of phase 3 data, and monopolized by the market for up to 10 years without alternative drugs in Korea. Most countries, including the United States and Europe, are also benefiting from market monopolies and shortening licensing time for rare drugs.
The global pharmaceutical market is expected to grow from USD 97 billion in 2015 to USD 176 billion in 2020, according to Evaluate Pharma. The growth rate is 10.5%, double the 5.3% growth rate of the entire pharmaceutical industry. Rituxan, the world`s best-selling drug, Swiss Roche, reported revenue of USD 7.5 billion in 2015 and USD 5 billion in Revlimid drug for the treatment of multiple myeloma.
Rare pharmaceuticals are entering the blockbuster order of over KRW 10 billion in Korea. IMS Health announced that it has received a total of KRW 35.7 billion worth of drugs for the treatment of Parkinson`s disease (PNH) last year based on the outpatient prescription of IMS Health Healthcare. Hunter`s drug of Green Cross, Hunterase and A type hemophilia drug-GreenGene of KRW 26.8 billion and KRW 6 billion, respectively. Ildong Pharma`s Pirepa Spa, a treatment for pulmonary fibrosis, received KRW 14.0 billion, while Handok`s pulmonary arterial hypertension treatment, Traclear, was worth KRW 10.2 billion.
Pharmaceutical companies are also actively entering into overseas markets. Unlike other medicines, there are few concerns about competing with multinational pharmaceutical companies, and multinational drug makers are able to sell their products without multinational drug manufacturers. Green Cross exports Hunterase up to KRW 7 billion won on annual basis in eight countries including South America, the Middle East and North Africa. In order to enter the US market, which is the largest pharmaceutical market, Green Cross has two phases in the US. GreenGene F has been in phase 3 in the US until last year, but has been delaying its clinical trial schedule and has decided to focus on the Chinese market, and is currently in phase 3 in China with the goal of ending next year. Afstyla, a hemophilia treatment drug SK Chemicals, which was exported to Australia`s CSL, was approved for marketing in the US last year.
SK Biopharmaceuticulars is developing in the US such as Parkinson`s disease treatment (SKL-PD), acute repetitive seizure treatment (Plumiaz) and narcolepsy treatment (SKL-N05). In particular, when YKP 3089, an epilepsy treatment that will be launched next year and expected to be and will be commercialized, it is expected to generate annual sales of KTW 1 trillion in the US alone.
JW Choongwae Pharmaceutical has completed clinical phase 1 with a targeted chemotherapeutic agent (CWP291) for acute myelogenous leukemia and an additional 1b phase for patients with relapsed or refractory acute myelogenous leukemia. Bukwang Pharmaceutical Co., Ltd`s Parkinson`s disease cure (JM-010) has won the grand prize in Europe and is expected to proceed with the 2b phase in the US this year.
By Kim Ji Seob cloud50@