This Week in BioPharma: 7/5-7/10 - $80 million dollars in pharma packaging and more

Med device manufacturers are being pushed toward taking partial responsibilities for faulty products alongside with insurers and U.S. hospitals. In the competitive environment, often pressed by insufficient demand, suppliers slowly move toward taking a risk and providing additional guaranties to gain an edge on the marketplace. Reuters, UK reports that in recent years there were billions of dollars paid to settle court claims of unsatisfied and at times unable to covers additional costs of treatment customers. The emerging trend is pushing medical device makers to not just cover the cost of broken or defective parts but to become accountable for health outcomes.

Vaccine products are said to reach $40 billion in sales by 2020. According to a recent report by the Tufts Center for the Study of Drug Development this number has tripled comparing to 2005. Research and development of vaccine products are on the rise. It is explained by many factors include the healthcare system and reluctance of healthcare providers to deliver long-term care for patients as well as continuous advances in cancer treatment research. The "Vaccine products in the R&D pipeline have more than tripled since 2005" report also suggests that while vaccine product makers are in the development phase at full speed, one of the obstacles they may face is distrust that consumers express toward vaccination as a general trend.

The packaging market in pharmaceutical industry in projected to reach $80 million dollars in value by 2020. Packaging of pharma products aims to protect the products from external influence, extend it shelf-life as well as cover all legal aspects. The pharmaceutical packaging market is rapidly growing due to steady progress in drug and vaccine development, and therefore the need of appropriate up-to-date packaging that responds to ever-changing demands of capricious consumers persists.

Not true they say, that biotech industry belongs to the West Coast - a biotech company from NY (Albany) was awarded more than $1 million in grants from the National Institutes of Health and the National Science Foundation. HocusLocus is focusing its attention on developing a cure against HIV and Ebola through the "switchable" mechanism that allows to switch from one gene to another one potentially killing cancer cells and viruses.


About the author: Ksenia Newton, a Digital Marketing Assistant at IIR USA, Pharma Division, who works on various aspects of the industry including social media, marketing analysis and media. She can be reached at knewton@iirusa.com

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