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Tuesday, 11 April 2017
New Report Covers Global Orphan Drugs Market 2017-2021
Report : Global Orphan Drugs Market 2017-2021is a new market research publication announced by Reportstack.
Report Outline: According to Orphan Drug Designation program of the US Food and Drug Administration (FDA), orphan diseases are defined as rare diseases that affects less than 2,00,000 Americans. The global orphan drugs market is expected to benefit from patent extensions like Orphan Drug Exclusivity (ODE), increasing focus of vendors on orphan drug products, and financial incentives provided by government in form of tax credits and waived FDA fees. For instance, the FDA grants a seven-year patent exclusivity to orphan drugs to treat a rare disease. Therefore, any other drug with the same indication cannot be approved by the FDA during these seven-years period. In addition, they also provide tax credits up to 50% of the total R&D cost after the drug receives the orphan drug designation. This credit can be used by the sponsor during the R&D phase of any drug irrespective of the drug designation. The orphan designated drugs are also exempted from paying the FDA fees. Thus, these financial incentives and grants for orphan drug attract many vendors to invest in developing drugs for rare diseases and make huge profits.
Market Growth: The global orphan drugs market to grow at a CAGR of 10.20% during the period 2017-2021.
Key vendors • AbbVie • Celgene • F. Hoffmann La Roche • Novartis
Other prominent vendors • Amgen • Actelion • Alexion Pharmaceuticals • Bayer • Biogen • Bristol-Myers Squibb • Eli Lilly • Johnson & Johnson • Novo Nordisk • Pfizer • Sanofi • Shire • Teva pharmaceutical
• Americas • APAC • EMEA
AbbVie, Celgene, F. Hoffmann La Roche, Novartis, Amgen, Actelion, Alexion Pharmaceuticals, Bayer, Biogen, Bristol-Myers Squibb, Eli Lilly, Johnson & Johnson, Novo Nordisk, Pfizer, Sanofi, Shire, and Teva pharmaceutical.