Economic Modeling: Our economic modeling core, led by Dr. Ann Wu, uses a variety of modeling approaches to project the medical and financial consequences of genomic medicine, including the use
of pharmacogenomic testing to inform medication choices and the use of sequencing as an adjunct to standard newborn screening.
Not exact matches
«Precision medicine is already positively affecting providers (for example, by reducing ED visits by 30 % through application
of molecular profiling treatment strategy); payers ($ 25 billion expected annual spending on genetic
tests by 2021, and 45 %
of FDA approvals were geared toward targeted therapies in 2013); and pharma (the
pharmacogenomics market is expected to be $ 7.5 billion by 2017).»
As such,
pharmacogenomic testing becomes fundamental to the development and clinical use
of several molecular diagnostics as well as targeted therapies.
This project indicated that not only a vast number
of novel potentially functional variants in a total
of 231 pharmacogenes was identified but also demonstrated the value
of whole - genome sequencing for
pharmacogenomic testing by capturing over 18,000 variants per individual in these pharmacogenes.
(2) Treatment research,
testing the effectiveness
of addiction treatments and their underlying processes, e.g. treatment efficacy, process evaluation, double diagnosis treatmentss, and patient - treatment matching (
pharmacogenomics).
Pharmacogenomic testing may help identify subsets
of the population who carry genetic variants that may alter psychotropic response to specific antidepressants.
The goal
of pre-emptive
pharmacogenomics testing is to take into account the impact
of each individual's genetic variants when selecting therapy thus providing personalized medicine.
In the meantime, we are working to develop
pharmacogenomic tests that can help to optimize the benefit to patients
of currently available treatments.»
deCODE plans to use its
pharmacogenomic work to develop and market a
test that can be used to target the prescription
of glucocorticoids to those patients for whom these compounds provide the most effective relief with the least possible side - effects.
Pharmacogenomic tests have the potential to improve resource allocation by improving targeting
of treatments so that individuals at risk
of having adverse responses to medications or not responding to medications can avoid them, thereby reducing healthcare costs.
Proponents
of personalized medicine were thankful for several developments that show this trend is picking up speed: CVS followed Medco's example in expanding
pharmacogenomic testing, while biotech and pharma companies, as well as the National Cancer Institute, stepped up their investment in the field.