The existing model of bringing new medicines to patients is a costly, exhaustive, and thorough process. In fact, to develop a new medicine under the federal process takes about $1 billion and 10 years — with a failure rate of roughly 99 percent.
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Developing new medicines is a lengthy and complex process, relying heavily on volunteer participation to evaluate potential therapies for safety and effectiveness in clinical trials. Without the patients who volunteer to participate in clinical research, the development of new treatments would not be possible.
Challenges in Patient Recruitment
Today, I had the opportunity to offer PhRMA’s perspective on inadequate intellectual property (IP) rights and other major trade barriers around the world during the U.S.
Despite the inevitable hurdles and roadblocks that arise throughout the R&D process, this past week we highlighted the medical breakthroughs aimed to improve the lives of patients around the world.
CMS recently released a proposed rule that would significantly change Part D, the prescription drug program in Medicare, potentially jeopardizing coverage, choice, access and affordability for beneficiaries. In a Feb.
A new book, the Cure in the Code: How 20th Century Law is Undermining 21st Century Medicine, provides a fascinating overview of advances in biomedical science with the potential to revolutionize how diseases are treated by providing patients with more targeted therapies.
At the International Trade Commission (ITC) hearing on the investigation into India's trade policies, Rod Hunter, PhRMA’s Senior Vice President for International Affairs, highlighted the industry's concerns and hopes surrounding India’s policies.
Many biopharmaceutical companies are actively engaged in the research and development of therapies to treat rare disease, despite challenges such as much smaller patient populations than more common diseases. Companies seek opportunities to partner with patient advocacy organizations, academia and the government in order to make even greater progress against rare disease, which collectively affect 1 in 10 Americans.
There's been a lot of discussion lately about the need to control rising health care costs, and the role of new medicines and medical technology. Nowhere has this discussion been sharper than in the area of oncology. At PhRMA, we’ve been joining in many of these discussions, working with other stakeholders to identify solutions to sustain continued progress and support efficient delivery of optimal patient care.
Within the medical community there is so much truth to the saying, “knowledge is power.” Whether it’s sharing information about a new medicine in development that could save a patient’s life, or sharing resources and ideas to change a patient’s life, it is essential that patients, doctors, and other members of the health care ecosystem stay well informed and disseminate their knowledge.
It’s no coincidence that February is American Heart Month and host to Valentine’s Day, and as a result, there is no better time to focus on your heart.
In last week’s #RarePOV tweetchat, leading rare disease advocacy organizations and individual patient advocates came together to share resources and plans for the upcoming international Rare Disease Day.
With the tragic news of Philip Seymour Hoffman’s death, the national conversation around addiction has gained a new focal point. Though Hoffman died from a heroin overdose, his death has intensified an ongoing discussion about the abuse and misuse of painkillers and other medicines.
The importance of protecting intellectual property cannot be overstated. For the biopharmaceutical industry, ensuring our ability to innovate is essential for continued R&D to help patients live longer, healthier lives.
Every day there is a war to wage against the world’s most devastating diseases. It is a fight we must win to make the world a safer, healthier place for our patients, and this week we discussed some of the battles currently underway.