Drugmakers bet billions that targeted radiation could become the next cancer breakthrough [from CNBC]

Angelica Peebles – Sep 16 (CNBC) – Drugmakers are betting that delivering radiation directly to tumors will become the next big cancer breakthrough. 

Bristol Myers Squibb, AstraZeneca, Eli Lilly and other pharmaceutical companies have spent some $10 billion on deals to acquire or work with radiopharmaceuticals makers. They’ve snapped up smaller upstarts to get their hands on technology that, while in its infancy, could treat numerous cancers. 

“Any large company that has a business presence in oncology or for whom oncology is an important therapeutic category will probably need exposure in this area one way or another,” said Guggenheim Securities analyst Michael Schmidt.

Two radiopharmaceuticals from Novartis are already available. Another few dozen are in development, according to Schmidt’s count. It’s hard to estimate the total market opportunity because there are so many possible cancers the drugs could treat, he said.

Schmidt predicts the category could grow to a low end of $5 billion in revenue if the technology stays limited to treating a few types of cancer like prostate and neuroendocrine tumors, to as much as tens of billions if it’s shown to be effective in more cancers.

Read the full article in CNBC

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