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The Rise and Rise of the Oncology Market

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The New York Times had a great story today by Andrew Pollack about the continuous push by Big Pharma and smaller specialty companies to become major players in oncology.

The article focuses mainly on Pfizer and the significant investments that the company is making in oncology--a major shift in strategy for the company, which historically has mainly focused its R&D efforts in other therapeutic areas.

The Healthcare PR Blog wrote about the explosive growth of the oncology market, and the fact that this trend looks set to continue in the years ahead, back in June of this year. 

Check out the New York Times story and The Healthcare PR Blog entry from June. There are some very interesting forecasts and figures in both pieces.

 

 

 

 

Will Media Report how Ted Kennedy’s Life was Extended through Improved Technology to Fight Brain Cancer? Probably Not

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Ok, I am backlogged on my reading, so what else is new?  If you are a healthcare public relations professional you are, by definition, behind on your reading!  If I can scan my newspapers, multiple news aggregators, and Twitter messages each day I’m ahead of the game.

 

However, I did take the opportunity to review PharmaceuticalExecutive’s Fifth Annual Press Audit.  While this appeared earlier this year, its findings are very relevant today, and will be valid until they field and report the 2010 press audit results. For those involved in healthcare communications and pharmaceutical and biotechnology public relations, these data are profound.

 

The PharmExec audit reveals that while articles covering pharma’s marketing, sales and other promotional practices have fallen, they have been replaced with articles about drug safety issues.  During 2008, Approximately 83% of articles focusing on pharmaceuticals and biotech were about drug safety concerns.  Negative articles about drug safety issues are at a five year high.  And, while overall media coverage of pharma is down, the majority of this coverage is negative, with only a small percentage considered positive (12%).

 

Considering these data, along with the ever increasing regulatory and political headwinds facing the pharma industry, we believe strongly that we need to restore confidence in the industry.  As leaders in healthcare PR and pharma marketing, we are proud of the work we do each day to raise awareness of new ground-breaking medicines and medical technologies.  We are passionate that pharma technology and R&D will contribute to cost savings in this era of healthcare reform and increased rationing. 

 

Many of our clients serve cancer patients and their families.  And, as we have witnessed today with the loss of Senator Ted Kennedy to cancer, the victory over this global scourge is still somewhere in the future. Senator Kennedy’s death is a terrible loss. However, we know that his life was extended months longer than it would have been just ten years ago because of the great strides we have made in the fight against brain cancer.

 

As healthcare communications professionals, I believe it is our responsibility to support a balanced portrayal of the pharmaceutical industry, and communicate with patients, legislators, the business community and the general public about its valuable contributions to extending and enhancing human life.

Double-digit Sales Growth, Robust Pipelines and Multiple New Launches Planned

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I knew that headline would get your attention. And while it might look like fantasyland in light of current economic trends affecting the pharmaceutical and biotechnology industries, it isn’t. The oncology market is forecast to grow at a compound annual rate of 12% to 15% between now and 2012, according to the IMS Global Oncology Forecast. The growth of the oncology market will be nearly double the forecasted growth rate of the overall pharmaceutical market over the next few years, reaching $75 to $80 billion in sales by 2012.

There are nearly 2,000 individual molecules currently in development for the treatment of cancer. Our industry has clearly identified oncology as a major opportunity, and demographics suggest that this market will continue to grow in spite of economic fluctuations. Global populations are aging, and cancer is an age-related disease. Looking at the US, President Obama vowed to seek a “cure for cancer in our time” in his February 2009 speech to congress, and followed that up by announcing a plan to double cancer research spending by 2017.

Unprecedented progress in genomics, the growth of targeted therapies and the promise of personalized medicine are all playing a critical role in winning the battle against cancer. A greater focus on screening, earlier diagnosis and prevention is also going to contribute to continued growth in the cancer diagnostics sector.

JFK Communications has a strong legacy of oncology public relations and cancer communications experience.  From ground-breaking disease awareness initiatives with Lance Armstrong to global launches of blockbuster cancer medicines, JFK has been there.  And we remain stalwarts in supporting companies large and small working to bring and end to this global scourge.  We help our clients with difficult oncology clinical trial recruitment, as well as even more difficult preparation for Oncology Drugs Advisory Committee meetings.  We know the cancer advocates, oncology KOLs and the PR folks at the major oncology professional societies.  JFK team members have spent much of our careers working at leading oncology companies and supporting global cancer initiatives.  We also provide pro bono support to key patient advocacy clients. 

Healthcare reform will bring a number of seismic changes. These include the emergence of a comparative effectiveness model, and for cancer patients, an increased focus on personalized medicine, improved screening and earlier diagnosis. Throw into this mix a highly motivated patient advocacy community committed to making sure that patients get the best treatments for their cancer, and you have a very challenging communications environment.

This is an exciting time to be involved in the cancer market. Considerable progress is being made in understanding the disease, governments are making major commitments to eradicate cancer, and healthcare reform is changing the model for delivery of care.

As Abraham Lincoln once said:

As our case is new, we must think and act anew.

--David Avitabile

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