Companies including Bristol Myers Squibb, AstraZeneca and Eli Lilly have invested billions in radiopharmaceutical drugs, which target cells containing specific cancer markers with radioactive material, the report said.
“If we can be successful in expanding the target and tumor type repertoire, this could be a very big class of medicines,” Jacob Van Naarden, president of oncology at Eli Lilly, told CNBC.
Guggenheim Securities biotech analyst Michael Schmidt, PhD, told CNBC he believes the market could grow from $5 billion to “as much as tens of billions,” depending on the number and types of cancers the drugs are proven to treat.
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