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Updated Study Analyzes Use and Cost of Orphan Drugs | ||
By: PR Newswire Association LLC. - 18 Oct 2018 | Back to overview list |
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WASHINGTON, Oct. 18, 2018 /PRNewswire/ -- Despite a record-breaking number of new approvals, orphan drugs remain a nominal part of overall drug spending, accounting for only 9.6% of total sales in the U.S. in 2017, according to a new study released today by the IQVIA Institute. The study was commissioned by the National Organization for Rare Disorders (NORD) for the second year in a row to show trends in orphan drug usage and costs. The major findings of the report are as follows:
"2017 was a year of innovation and advancements in rare diseases, with more FDA approvals of treatments for rare diseases than ever before," said NORD President and CEO Peter L. Saltonstall. "The recent IQVIA Institute study highlights the enduring importance of the Orphan Drug Act in making that progress possible." "It is critical to note that orphan drugs remain a sliver of overall drug spending in the U.S.," Saltonstall said. "NORD remains committed to shining a light on the simple truths that illustrate how the Orphan Drug Act continues to be vital to the future of rare disease drug research and development." About 7,000 rare diseases have been identified, affecting approximately 30 million Americans. Many affect only a few hundred or a few thousand individuals. Rare diseases tend to be chronic, serious and life-threatening. More than 80 percent are believed to be genetic. Information on the report, including a link to the study, is available on the NORD website at www.rarediseases.org/rareinsights. Editor's note: Peter L. Saltonstall, President and CEO of NORD, is available for interviews on the report. Contact Laura Mullen at lmullen@rarediseases.org. About the National Organization for Rare Disorders (NORD)® NORD began as a small group of patient advocates that formed a coalition to unify and mobilize support to pass the Orphan Drug Act of 1983. For more than 35 years, NORD has led the way in voicing the needs of the rare disease community, driving supportive policies and education, advancing medical research, and providing patient and family services for those who need them most. NORD represents more than 280 disease-specific member organizations and their communities and collaborates with many other organizations in specific causes of importance to the rare disease patient community.
View original content to download multimedia:http://www.prnewswire.com/news-releases/updated-study-analyzes-use-and-cost-of-orphan-drugs-300733242.html SOURCE National Organization for Rare Disorders (NORD) |
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