Annual cancer drug report finds strong revenue growth in oncology

Industry analyst the IQVIA Institute has released its annual oncology report, which finds that while overall revenues are growing, the median cost for new medicines dropped $13,000 in 2018, down to $149,000.

The report forecasts that growth in revenues in oncology will reach 11%-14% by 2023, resulting in overall spending of over $200 billion globally.

The report, titled “Global Oncology Trends 2019: Therapeutics, Clinical Development and Health System Implications,” finds that a record of 15 new therapeutics and one support care therapy were launched in 2018.