Cancer Drugs Projected to Generate the Most in Pharma Revenues

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PALM BEACH, Florida, Aug. 20, 2019 /PRNewswire/ -- Cancer drug market revenues have been steadily rising in the past few years and all indicators predict that they will continue to rise over the next several years. According to industry sources, in 20118 oncology drugs reached US$123.8 billion in sales. This figure is more than double the sales of the next market on the list, drugs treating diabetes, which reached US$48.5 Billion dollars in sales in 2018. By 2024, cancer drug sales are expected to almost double to US$236.6 Billion dollars. One of the fastest growing segments in oncology drugs will be the glioma (brain tumor) market. Another industry report projected that the Global Glioma Diagnosis and Treatment market alone is expected to grow at a CAGR of approximately 10.1% during the forecast period, 2017–2023. Active biotech and pharma companies in the markets this week include Moleculin Biotech, Inc. (NASDAQ: MBRX), Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR), AbbVie Inc. (NYSE: ABBV), Mallinckrodt plc (NYSE: MNK), Nabriva Therapeutics plc (NASDAQ: NBRV).

The report continued: "Brain tumors are one of the prominent causes of cancer among children and teenagers. Glioma is the most common type of brain tumor which accounts for approximately half of all the astrocytoma. The increasing occurrence of glioblastoma over the years is responsible for the growth of the glioma diagnosis and treatment market. The upcoming drug launches and developments in research are instrumental for the growth of the market. In addition, the current unmet need is expected to drive the gliomas industry over the forecast period. Changing financial demands and access to healthcare facilities are some of the factors that are constraining the market growth.

Moleculin Biotech, Inc. (NASDAQ:MBRX) BREAKING NEWS: Moleculin Biotech, a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced approval by the Emory University Clinical Trial Review Committee (CTRC) to move forward with an Investigator Initiated clinical trial of Moleculin's immune-stimulating/transcriptional-modulator, WP1066, for the treatment of pediatric brain tumors. The trial will take place at the Aflac Cancer and Blood Disorders Center at Children's Healthcare of Atlanta.