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Home Industry News GlaxoSmithKline’s Yamada expects cancer drug market to double

GlaxoSmithKline’s Yamada expects cancer drug market to double

1st December 2005

GlaxoSmithKline’s (GSK) head of research and development, Tachi Yamada, yesterday said that he expects the global market for cancer drugs to double in value from $42 billion last year to $70 billion by 2009.

At a meeting of investors in New York Mr Yamada said that an aging population in developed countries was meaning cancer is on the increase and the evolution of treatment has meant drugs are taken for longer.

Outlining GSK’s plans to exploit this development Mr Yamada said: “Glaxo is currently ranked 11th in the world for cancer sales but we believe we could become one of the leading players.”

Currently, cancer drugs account for only five per cent of the group’s sales.

Mr Yamada’s predictions came as the company announced that it will put four new cancer drugs into final-stage clinical trials next year.

Tykerb, formerly known as lapatinib, eltrombopag, casopitant and pazopanib will go in to Phase III studies, the last stage of testing before medicines are approved for commercial use.

“Glaxo are now potentially a player of serious magnitude in oncology given the range of products that they’re profiling here, from emetics (nausea) to platelet production drugs to pure-play oncology products,” Navid Malik, an analyst with stockbroker Collins Stewart, told Reuters.

track© Adfero Ltd

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