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All these factors will support the growth of in-house R&D-driven pharmaceutical companies and bring more innovative drugs to Asian markets.”. The entire APAC region already accounts for 30% of all global pharma spending, and within these markets national healthcare expenditure is expected to increase threefold to over $2 trillion by 2030.
Under the agreement, Calico is responsible for research and early development until 2025 and will take projects through phase 2a trials until 2030, with AbbVie having an option to take over projects once they reach later-stage development and lead commercialisation efforts.
Biologics product development has increased steadily over the past decade, with the volume of business forecast to double by 2030. Driven by advancements in technology, these complex therapeutics have already made waves in life sciences, providing revolutionary treatment options in oncology, immune conditions and rare diseases.
The cancer immunotherapies will mainly be provided in the context of clinical trials over the alliance, which extends out to 2030, but also covers supply of commercial therapies if approved in the interim. It will also cover some infectious disease targets.
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