In recent years, there has been a shift in the focus of pharmaceutical companies, with the trend now focusing on discovering the next US$1billion “Blockbuster” medicine treatment for a rare disease state.
In a new research piece published by online medical news site, The Conversation, researchers have identified that one of the major factors, leading to this shift in focus for pharmaceutical companies, is that they are being offered incentives internationally to develop treatments for rare diseases, also called Orphan medicines.
According to The Conversation, these rules incentivise pharmaceutical companies to develop medicines for rare diseases – “orphan drugs” – that would otherwise not be commercially viable.
The incentives on offer include seven years of market exclusivity in the US, and ten years in Europe (which may be further extended for paediatric use); reduced or waived regulatory fees and tax credits.
To find out more, read the full story on The Conversation website, here.