The US healthcare system is in a crisis… it is expensive, reactive, inefficient, and focused largely on the one-sized fits all treatments for late stage disease.
The top ten highest-grossing drugs in the United States helps as low as 1 in 25 of the people who take them.In 2011, it is estimated that over $350B was wasted in US healthcare
But there is a cure…PRECISION MEDICINE.
Precision medicine happens when the right person takes the right drug at the right time. But that can only happen when a diagnostic test is paired with each drug. That's called a companion diagnostic.
Personalized Medicine is transforming Cancer Care
Biopharmaceutical companies focusing on personalized medicine have resulted in several recent approvals and a growing number of new medicines in the pipeline
- 42 percent of all drugs in the pipeline have a companion diagnostic
- Oncology leads the way with 73 percent of the pipeline represented by precision therapies
- Biopharmaceutical companies nearly doubled their R&D investment in precision medicines over the past five years, and expect to increase their investment by an additional one-third in the next five years
- Biopharmaceutical researchers forecast a 69 percent increase in the number of precision medicines in development over the next five years.