Cumulative annual revenue from cancer drug sales increased by 70% among the world's largest pharmaceutical companies over the past decade, a retrospective analysis shows.
"Cancer drugs now account for approximately 27% of new drug approvals in the United States, compared to 4% in the 1980s. During this period, there has also been a substantial increase in the price of cancer medicines," Daniel E. Myers, MD, of the University of Calgary, Calgary, Canada, and colleagues explain in their report, published online October 6 in Cancer.
Sanofi and GSK had some of the lowest net revenues from cancer drugs during the study period. For instance, in 2019, GSK generated $300 million in revenue from oncology drugs, representing less than 1% of the company's total revenue, down from 3% of its total revenue in 2010.
"With the cost of cancer drugs rapidly rising, further work is needed to understand how this [overall] increase in sales revenue reflects industry profit, and how this is linked (or not) to improvements in patient and population outcomes," they conclude. Although data regarding how cancer drug development affects population mortality rates are limited, "there is a notion within biomedicine that rising corporate profitability may not translate into proportional societal gains."
Cite this: Cancer Drug Revenue Increased 70% Over a Decade - Medscape - Nov 05, 2021.