The Entrepreneurial Company Award is bestowed upon NeoTherapeutics, Inc.
Press Release
New Market Entrants and Aging Patient Population Drive U.S. Alzheimer's Disease Drug Revenues Past $2.4 Billion, says Frost & Sullivan
SAN JOSE, Calif.--(BW HealthWire)--March 5, 2001--Currently, there is no effective treatment that can stop the progression of Alzheimer's disease (AD). As the intense search for effective treatments of this devastating affliction continues, pharmaceutical companies are positioning themselves to reap great future financial rewards, both from new products entering the markets and from an expanding aging patient population.
Frost & Sullivan's strategic healthcare market analysis (www.healthcare.frost.com) reveals that the U.S. Alzheimer's Disease Medication Markets generated revenues of $514 million in 2000. Total revenues are projected to climb to $2.4 billion by 2006, as a wealth of new drugs are expected to gain marketing approval toward the end of this forecast period.
``Out of the several medications that were in late-stage clinical trials in 1999, one or more are expected to enter the market in 2003,'' says Frost & Sullivan Pharmaceutical Industry Manager Joe Warzecha. ``Competition will be based on which products are first to market and the most efficacious, and which companies have the marketing budget to sustain effective product promotion.''
In their marketing efforts, pharmaceutical companies must emphasize a products' ability to significantly improve the patients' cognitive function. At the same time, those firms must work to boost effectiveness while shortening time to market.
Competitors must consider a myriad of issues, such as balancing the drive to provide high returns on investment in R&D with the demand for low-cost drugs. ``High drug prices are shutting patients off from current treatments,'' says Warzecha. ``It is a struggle for caregivers to pay for these drugs, especially when faced with the cost of long-term care and high doctors' bills.''
Until more drugs enter the Alzheimer's disease market and force price competition, high prices are expected to continue. This restraint is particularly relevant given the unresolved state of Medicare reimbursement.
Frost & Sullivan's analysis of the US Alzheimer's Disease medication markets details expert market forecasts, in-depth discussions of market drivers and restraints, and numerous strategic recommendations. Frost & Sullivan examines specific drugs currently in the product pipeline and their prospect for success in this rapidly growing marketplace.
Frost & Sullivan presents the 2000 Marketing Engineering Awards to companies that have worked diligently to make a positive contribution to the Alzheimer's disease medications market. The Market Engineering Leadership Award was presented to Pfizer and Esai for their collaborative efforts in the development and marketing Aricept. The Entrepreneurial Company Award is bestowed upon NeoTherapeutics, Inc., while Elan Pharmaceuticals has garnered the Market Engineering Award for Product Innovation.
Frost & Sullivan, which is headquartered in San Jose, CA, is a global leader in international strategic market consulting and training. Frost & Sullivan's industry experts monitor the pharmaceuticals industry for market trends, market measurements, and strategies. This ongoing research is included in the Pharmaceuticals Monitoring Service which includes analyses of the US arthritis therapeutic markets and the US markets for hypertension therapeutics. Executive summaries and interviews are available to the press.
Along with publishing in-depth strategic market consulting research, Frost & Sullivan also provides custom consulting services to a variety of national and international companies.
U.S. Alzheimer's Disease Medications Market |
