rare diseases, termed orphan drugs. The salient features of the act are as follows:
- Incentives to Pharma companies investing in Orphan Drugs R&D
- Faster/Priority clearance of Orphan Drugs Application through FDA
- Market exclusivity for 7 years for Pharma companies to recover costs
Global Orphan Drugs market exceeded 50 Bil $ in 2011
Only ~500 approved orphan drugs exist in the market and over one hundred in clinical trials.
Majority of the diseases have no treatment and when they exist, are mostly unaffordable
Early diagnosis is a critical challenge in RD management (Avg time 5-7 yrs)
Affordability: Genzyme and more recently Shire have charitable access program for LSD patients in India