With all of the billion-dollar or even high-multimillion-dollar pain products such as Purdue’s Oxycontin, Pfizer’s Lyrica, Endo’s Lidoderm, and Janssen’s Duragesic already off-patent or going off-patent within the next five years, developing new or generic pain relieving products is looking more attractive than ever. Complicating this picture is the need to address growing abuse of pain medication. Up to 73.8% of prescription drug overdose-associated deaths in the U.S. were attributed to opioid-based pain relievers. As it is now, there are no overt regulations or requirements on manufacturers or developers to put in measures to deter abuse. Nonetheless, rest assured that the U.S. Food and Drug Administration (FDA), regulatory body of the world’s largest pain product market, is on the move to control the situation.
On this basis, the opportunity for pain medication developers to differentiate is not only clear, but critical. However, likely emerging solutions also open new revenue streams for chemicals and materials developers through materials-enabled delivery devices and formulations that keep the massive pain medication revenues flowing and growing. The Lux Innovation Grid (LIG) of emerging and established pain medication technology developers shows the extent to which we view this opportunity in a positive light. Unusually for LIG, the vast majority of developers are well positioned in, or close to, the dominant quadrant. Developers such as Intellipharmaceutics, Phosphagenics, Egalet, Durect and Encap have taken steps to ascertain their products and are less susceptible to abuse through novel transdermal, topical and oral approaches.
In the rush to occupy gaps left from the aftermath of patent expiries and to address drug developers’ new needs for more agile, open innovation, differentiating one technology developer or service provider from another is critical. For companies struggling to find their place in an increasingly global, affluent, decentralized and aging healthcare market, the partners that can decrease pain and suffering – of end users and their own CFO – are there for the taking.
Source: Lux Research report “Ranking Emerging Delivery Technologies: Scouring the Toolbox to Find a Nut to Fit the Bolt” — client registration required.