US Acute Myeloid Leukemia Market is growing due to advancement in treatment approaches, increase healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.
Story Outline
- Pfizer Inc.- An American multinational company with the highest annual revenue of around 100 billion US$ in 2022 in the drug market. The company has made significant contributions to the US Acute Myeloid Leukemia Market through a sophisticated, robust, agile manufacturing infrastructure and investment in research and development.
- Brystol Myers Squibb- One of the largest American pharmaceutical companies which consistently ranks on the Fortune 500 list of the largest US corporations. The company’s mission is to discover, develop, and deliver innovative medicines that help patients as well as prevail over serious diseases.
- Novartis AG- The company with the fourth-largest revenue in the drug market which is focused to deliver high-value medicine that alleviate society’s greatest disease burdens through technology leadership in R&D and novel access approaches.
- The US Acute Myeloid Leukemia Market is expected to grow at CAGR of 10.5% in the forecast period 2022-2028.
The Acute Myeloid Leukemia Market of US is driving growth at an amazing level. This surge is a result of advancement in treatment approaches, increases healthcare costs and expenditure, growing investments in Research and Development, and a constant growth in population.
Various pharmaceutical companies are actively shaping this growing market with their strategies and innovations.
This article provides an in-depth look at major pharmaceutical companies with their strategies and innovations.
1.Pfizer Inc.
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Pfizer Inc. is an American multinational pharmaceutical company and headquartered at The Spiral in Manhattan, New York City. The company has made significant contributions to the US Acute Myeloid Leukemia Market through a sophisticated, robust, agile manufacturing infrastructure and investing in research and development.
The company employs more than 30,000 employees worldwide, have 35+ manufacturing sites, 300+ external suppliers, and have reached more than 180 countries. Pfizer tops the list of drug market by achieving a revenue of approx. 100 billion USD in 2022.
Pfizer has made significant contributions to the US acute Myeloid Leukemia Market. Some notable contributions are, in April 2017, the development and approval of a targeted therapy called “Rydapt”, which is an oral kinase inhibitor that targets multiple enzymes, including FLt3, which is often mutated in AML patients. The drug was approved by FDA in April 2017 for use in combination with Chemotherapy.
Furthermore, MYLOTARG is approved in combination with daunorubicin and cytarabine for the treatment of patients aged 15 and above with previously untreated, de novo, CD33-positive acute myeloid leukemia (AML), except Acute Promyelocytic Leukemia (APL).
The company’s purpose is “Breakthroughs that change patients’ lives—fuels everything we do and reflects our passion for building on our legacy as one of the greatest contributors of good to the world.
The company says that its purpose ensures that its patients remain at the center of all that they do. They live with their purpose by sourcing the best science in the world; partnering with others in the healthcare system to improve access to their medicines.
Pfizer believes in growing partnerships with innovators to initiate forward great science and continually seek new partners that are actively researching bold scientific ideas. In December 2022, Pfizer announced its collaboration with Gero’s machine learning technology platform to discover potential therapeutic targets for fibrotic using large-scale human-based data.
Pfizer’s continuous clinical trials and collaboration with healthcare institutions and research organizations has majorly contributed in advancing Acute Myeloid Leukemia Market and the development of novel treatment strategies.
2.Bristol Myers Squibb
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The Bristol Myers Squibb Company, is an American multinational pharmaceutical company headquartered in Princeton, New Jersey. BMS is one of the world’s largest pharmaceutical companies and consistently ranks on the Fortune 500 list of the largest US corporations.
The company employs more than 34,000 across more than 86 locations worldwide. The company’s revenue in 2022 was approximately 46 bn USD.
Their mission is to discover, develop, and deliver innovative medicines that help patients as well as prevail over serious diseases. Bristol believes in the power of science to address some most challenging diseases of today’s world.
Bristol Myers is majorly known for its contributions to oncology, and immunology and its involvement in Acute Myeloid Leukemia Market with its broader focus on cancer treatments.
The significant development of BMS can be noted from June 2021, Bristol Myers Squibb received approval from European Commission for Onureg, a Frontline oral maintenance therapy for adult patients with acute Myeloid Leukemia who achieved their first complete remission (CR) or CR with incomplete blood count recovery following intensive induction chemotherapy. Onureg is expected to increase sales and product revenue, thereby increasing the US Acute Myeloid Leukemia Market growth.
Furthermore, the strategic cooperation between Evotec and Bristol Myers Squibb has grown in order to create a pipeline for programs addressing more neurological illnesses. In order to find altering therapies for a variety of neurodegenerative disorders, the firms started working together in 2016. The eight-year extension is intended to strengthen the strategic partnership even more.
3.Novartis AG
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Novartis AG is a healthcare company that majorly focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical and eye care products. Novartis offers generic medicines and biosimilars through Sandoz. The company conducts its research through The Novartis Institute for Biomedical Research (NIBR).
Novartis is one of the largest pharmaceutical companies in the world and the fourth largest by revenue in 2022, which was approx. 50.500 billion USD.
The company is functioning in more than 150 locations with around 1,10,000 employees working worldwide.
Novartis’s strategy as a focused medicines company is to deliver high-value medicine that alleviates society’s greatest disease burdens through technology leadership in R&D an novel access approaches.
Novartis contribution to Acute Myeloid Leukemia Market includes, FDA approval of Novartis Scemblix (asciminib), with novel mechanism of action for the treatment of Leukemia in October,2021.
Furthermore, through their open approach Novartis is focusing on new technologies to develop next generation therapeutics. Currently, Novartis is working with Orionis Bioscience to find new targets at a genome-wide scale.
By combining development and drug discovery with innovation, they aim to achieve tenuous targets and to launch novel small molecule therapy for Acute Myeloid Leukemia patients more quickly. Thus driving a steered growth for the US Acute Myeloid Leukemia Market.
