“Personalized” medicines represent a health care revolution. Thanks to sophisticated and new diagnostic technologies, medical scientists have created hyper-targeted treatments keyed into the specific physiological traits of individual patients. These drugs are more effective than their conventional counterparts and less likely to cause adverse side effects. And they’ve proven valuable in the fight against diseases previously considered untreatable.
But drug developers need smart laws to flourish. Unfortunately, over just the last year, federal lawmakers have taken several steps that could smother pharmaceutical innovation and compromise private industry’s ability and willingness to pursue more lifesaving breakthroughs.
First, the good news. The market for personalized biopharmaceutical drugs is on track to double in size to $18 billion by 2019.