Fitch: Global Pharma Perseveres on Cancer Treatments

NEW YORK & CHICAGO--(BUSINESS WIRE)-- Development of cancer therapies remains a focus for many global pharmaceutical companies despite three recent late-stage trial shortfalls, according to a new special report by Fitch Ratings.

Bristol-Myers Squibb's Opdivo, AstraZeneca's Selumetinib and Eli Lilly's Abemaciclib all failed to improve survival rates for various types of cancer in their original trials. However, all three are moving forward in clinical trials for other types of cancer.

"A greater understanding of how cancer avoids the body's immune system has equipped researchers with the ability to more precisely target cancer cells," said Bob Kirby, Director, U.S. Corporates at Fitch Ratings. "The industry will continue to exploit this knowledge in developing new treatments and trying combination therapies."

Six (40%) of the 15 novel drugs approved by the FDA in the first seven months of the year are for the treatment or diagnosis of cancer. As late-stage trials continue, cancer drugs will remain a significant share of global pharmaceutical companies' R&D pipelines.

The number of FDA approvals in the first seven months of 2016 is down relative to the same period last year. Biologics still represent a sizable portion (33%) of those approvals, even as the number of approvals for new molecular entities has dropped.

The full report, "Global Pharmaceutical R&D Pipeline: Despite Setbacks, Pursuit of Cancer Treatments Continues," is available at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

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Global Pharmaceutical R&D Pipeline (Despite Setbacks, Pursuit of Cancer Treatments Continues)

https://www.fitchratings.com/site/re/886636

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Fitch Ratings
Bob Kirby, CFA
Director
+1-312-368-3147
Fitch Ratings, Inc.
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Chicago, IL 60602
or
Frank Orthbandt
Director
+44-20-3530-1037
Fitch Ratings Limited
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Media Relations
Alyssa Castelli
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Source: Fitch Ratings

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