| Personalized Medicine holds the promise for a more efficient healthcare system. |
| Many problems in healthcare, such as ineffectiveness of treatments, toxicity issues, growing costs etc., are addressed by the Personalized Medicine approach. The pharmaceutical and biotechnology industry has a key role to play in developing Personalized Medicines. This is not easy because it involves a substantial change of business model from developing “one fits all” drugs to medicines for relatively small patient groups (50,000-100,000 world wide). These new medicines will probably be classified as orphan drugs in the future. However, the business model can work because of patient selection and the high value of the medicine for these patients. This allows for a higher, more value related price for the medicine in the market as an incentive for industry to work on these innovative therapies. The higher price for the medicine should not lead to a higher cost for the healthcare system because of the very selective prescription. |