Luis Alvarez
While many of the top-selling cancer therapeutics are sold by some of the largest pharmaceutical companies, an increasing number of oncology candidates in development are coming from smaller biopharmas and Chinese firms.
In 2023, 60% of oncology clinical trial starts were from emerging biopharmas. In 2013, that figure stood at 33%, according to a new report from the IQVIA Institute for Human Data Science.
China-based pharmas represented 35% of trial starts in 2023. A decade before, it was only 5%.
Emerging biopharmas have originated 63% of U.S. novel oncology drug launches over the last five years, up from 44% over the prior five years. Also, 45% of these companies launched their own products.
The report, “Global Oncology Trends 2024: Outlook to 2028,” noted that antibody-drug conjugates, cell and gene therapies, and multispecific antibodies are taking a growing share of oncology research.
IQVIA also found that oncology drug development is getting better as evidenced by a 23% improvement in oncology clinical development last year. This is because of improved trial success and less complexity of the studies themselves.
The report comes as the number of cancer cases worldwide is expected to grow significantly. IQVIA projects that over the next 25 years, more than 12M new cases per year will be diagnosed, particularly in lower-income countries.
That means that spending on cancer therapies will greatly increase as well. IQVIA said that worldwide spending on cancer medicines was $223B in 2023, up from $198B in 2022. That figure is estimated to reach $409B by 2028. In the U.S. alone in that year, spending on cancer therapies will reach $180B.
PD-1/PD-L1 inhibitors, some of the most commonly used cancer therapies, achieved $52B in spending worldwide in 2023, a number expected to reach $90B in 2028. Examples include Merck’s (NYSE:MRK) Keytruda (pembrolizumab), Bristol Myers Squibb’s (NYSE:BMY) Opdivo (nivolumab), Regeneron Pharmaceuticals’ (REGN) Libtayo (cemiplimab), Merck KGaA’s (OTCPK:MKGAF)(OTCPK:MKKGY) Bavencio (avelumab), Roche’s (OTCQX:RHHBY) Tecentriq (atezolizumab), and AstraZeneca’s (NASDAQ:AZN) Imfinzi (durvalumab).
The market for next-generation oncology biotherapeutics, such as cell, gene and RNA treatments, is seen hitting $28B in 2028, up from $4B in 2023.
The report also found that oncology biosimilar uptake has been growing as they saved patients $7.1B n 2023 and $19B since 2017.
In 2023, the biggest selling oncology drug worldwide was Merck’s Keytruda with $25B, according to Statista. That was followed by Johnson & Johnson’s Darzalex (daratumumab) at $9.7B, Bristol’s Opdivo at $9B, AbbVie (NYSE:ABBV) and J&J’s Imbruvica (ibrutinib) at $6.9B, and Bristol’s Revlimid (lenalidomide) at $6.1B.
