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With only a few days to go until the FT US Pharma and Biotech Summit in New York, Bill Sibold, Executive Vice President at Sanofi Genzyme growth, tells us about the growth of the specialty care market and the opportunities and risks of investing in this space in a brief Q&A with the FT Live team:
1. What are the key factors and trends shaping the pharmaceutical sector in the U.S.?
The pharmaceutical sector is still driven by innovation. If you look at top selling therapies – current and forecast – the vast majority are innovative products for specialty indications. The real growth driver for the pharmaceutical sector is the specialty care market, and we are seeing a number of companies increasing their investment in R&D in this space, including Sanofi. There are a number of factors that make the specialty care market attractive for example, high levels of unmet need, innovation is typically rewarded, and the physician base is concentrated.
Of course, aff ordability of healthcare in general is a question that the world is grappling with now including the U.S. The environment for US pricing is dynamic and will continue to evolve as we learn more about potential legislative and policy-making activities and how it will aff ect the industry, and most importantly, patients.
2. Where do you see growth opportunities coming from for the industry in the next few years?
As one might expect given the composition of the industry’s pipeline today, many of the largest and fastest growing therapeutic areas in medicine reside in specialty therapy areas, including oncology, dermatology, respiratory, ophthalmology, hematology, and neurology.
Oncology is the largest therapeutic area globally and continues to grow rapidly in both immuno-oncology and non-IO segments. Nearly all of our lives are touched in some way by cancer. It is a disease that takes on many forms and for which existing treatments do not work for many patients. The potential to have a profound impact on many people’s lives is significant in this space, and the rate at which the industry continues to make progress in the fight against cancer is remarkable.
3. What are your predictions for the industry for the next 10-12 months?
In the next year, I believe the industry will continue to work diligently and responsibly to develop life-saving and life-changing medicines for patients who are waiting for new treatment options. We have a responsibility to work with each of the players in the healthcare system to ensure patients have access to these treatment options.
As I look to the future, there is no other industry in the world I would rather work in. In the healthcare and pharmaceutical space, we have the ability to make a true impact on the lives of so many people around the world, and that is an honor and responsibility I take seriously.
4. Could you give our audience a taste of what they can expect from your session at the Summit in May, please.
I am looking forward to continuing this discussion around the growth of the specialty care market and the opportunities and risks of investing in this space, and to share my passion for the industry and for helping patients.
5. Why are events such as the FT US Pharma and Biotech Summit important for the industry?
In the end, we are all here to help patients, and these types of events help us to do that. It is important and productive for us to come together to discuss collectively some of the key issues and trends we are seeing and to share insights and perspectives.
You can also join a live discussion with Bill Sibold and many other thought leaders in the pharmaceutical industry at the FT US Pharma and Biotech Summit in NYC, on May 14. Find out more on live.ft.com/USPharma
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