Today, more than 7,000 rare diseases have been identified. Primarily, most of them are deadly and pose a considerable burden to those who wish to get treatment. Sadly, 85% of these diseases do not have approved therapies, which can be used as treatment. Orphan drugs are extremely expensive as the cost range from $200,000-300,000 per year for every patient. Notably, these treatments tend to last a lifetime or for years because the developmental costs for these drugs must be recovered (Schilling, 2005). In this sense, the business looks attractive, and many companies can be enticed to ...
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How Genzyme came to its unique focus on orphan drugs?
Genzyme Corporation had a humble beginning as it was founded by a small number of scientists who were devoted to researching diseases that were genetically inherited. Some years after Genzyme was founded, the Orphan Drug Act was passed into law in the 1980s by countries such as the U.S., Japan, Australia, Canada, and Russia. Such countries intended to encourage developments in drug research, diagnostics, and vaccines that would help improve the treatment options for such rare diseases (Pryde & Groft, 2014). Luckily, this legislation provided various tax exemptions and breaks on costs of Orphan drugs. Notably, an orphan drug is ...