This is an exciting time in biomedical innovation. New and highly innovative therapies are coming to market that promise significant improvements in patient health. They include a range of novel approaches to treating disease, like gene therapy, immunotherapy, and RNA interference. Many of the most transformative new therapies are designed to target serious, unmet medical needs among often small groups of patients.
Take gene therapy, for example. Gene therapies that are expected over the next few years have relatively small patient populations—ranging from 1,100 to 35,000 patients. A new therapy that’s expected to be approved any day by the FDA will treat spinal muscular atrophy, a fatal disease that afflicts an estimated 500 children each year.
How society pays for these medical breakthroughs is becoming an important part of the broader conversation around the cost of prescription drugs. As that discussion unfolds, it’s important to keep a couple things in mind.Continue reading