To compile the report, researchers examined data from numerous oncology databases detailing medication spending and cancer drug pipelines, among other quantitative measures.
Here are five report findings.
- Worldwide oncology drug spending increased from $91 billion in 2012 to $113 billion in 2016.
- QuintilesIMS projects annual spending growth of 6 percent to 9 percent over the next five years.
- Regulators — including the Food and Drug Administration — approved 68 new cancer treatments since 2011, according to the report.
- There are 631 experimental cancer drugs currently in development.
- The median time for a company to earn a patent for an investigational drug and receive regulatory approval dropped from 10.25 years in 2013 to 9.8 years in 2016, according to the report.
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