New Gene Therapies can start truly curing diseases but Big Pharma is addicted to decades of revenue for not curing diseases. It has been decades since the true age of medical cures with vaccines and antibiotics. The last fifty years has been dominated by increasingly expensive treatments that provide symptomatic relief for chronic conditions. The conditions were chronic because the medicine was not providing true cures. The new gene therapies and biotechnologies can fix the root causes of disease with a single dose. The correct genetic material is introduced into the patient’s cells. The treatments can replace a lifetime of conventional costly drugs. This is a problem for Big Pharma which wants to keep a lifetime of payments from patients. Pharmacy giant Novartis has proposed pricing gene therapies installment payments instead of one time fees. The U.S. Food and Drug Administration forecasts as many as 20 cell- and gene-therapy approvals each year by 2025. The Institute for Clinical Economic Review has made the case that Novartis’s Zolgensma (a treatment for Spinal Muscular Atrophy) could be priced for as much as $1.5 million — and as little as $310,000. Novartis argues that each treatment is worth $5 million and they want to charge at least $2 million. Novartis has also proposed installment payments over five years. They would offer reimbursement if a patient dies or the treatment otherwise fails within that period. Drug-cost authorities in Britain and Canada are working with ICER to test new methods for valuing potential cures. There needs to be fair pricing with reasonable profit for the companies and fair prices for patients and the medical system. There are two charts of overall healthcare spending from HealthSystemTracker. Usually prescription drugs are about ten percent of overall medical costs. The answer to these pricing problem are: 1. There needs to be multiple source for each medical cure so that there is competitive pricing. 2. The system needs to wean the companies off of overcharging. 3. The reliability of the gene therapy cures has and the processes for developing the cures needs to be made reliable. 4. As the age of medical cures develops, then new providers will need to transform to providing effective and efficient platforms for cure generation and then being able to offer medical enhancements that people will want to keep buying.
SOURCES- Health System Tracker, ICER, Bloomberg
Written By Brian Wang, Nextbigfuture.com
Brian Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.