The treatment of illness has traditionally been based on the law of averages – what works best for the largest number of patients. As a result, billions of dollars are spent every year on treatments that could be ineffective or even harmful for some patients. What if doctors could tell with a simple test which course of treatment would be best for a particular patient?
As recently as a decade ago, this would have seemed like science fiction. But thanks to recent advances in molecular diagnostics, "personalized medicine" – which allows physicians to tailor treatment to a patient based upon defined characteristics – is a reality today, according to a panel of experts who will be discussing opportunities and obstacles of personalized medicine at an exclusive media event hosted by QIAGEN.
QIAGEN, a worldwide leader in molecular diagnostic technologies, will host a panel discussion with experts in the field of personalized medicine, including Edward Abrahams, Ph.D., executive director of the Personalized Medicine Coalition (PMC); Nancy Roach, co-founder and Board Chair of C3: Colorectal Cancer Coalition; and Peer Schatz, CEO of QIAGEN, whose tests and tools are being used by physicians, leading researchers and many of the largest pharmaceutical companies to determine patients' potential responses to drug treatments based on specific genetic markers. The event, which will be open exclusively to media, will be held at the Four Seasons Hotel in New York on February 11, 2010.
"We are honored to have such a distinguished panel to address many of the facets of personalized medicine, including public policy, science, and patient care. With the nation focused on healthcare reform, the timing of this event couldn't be better," said Schatz. "For instance, some of the most popular treatments for cardiovascular and neurological diseases, and most prominently cancer, are effective in only about 60 percent of patients. That leaves a significant portion of the population searching for a treatment that works for them, often at considerable expense. Personalized medicine can dramatically improve the success rate, while significantly reducing unnecessary and ineffective treatments."
The U.S. Food and Drug Administration (FDA) has already identified 32 different genomic biomarkers in current product labeling of various drugs, which can be used to leverage a patient's genetic information in order to plan a personalized course of treatment. There are currently diagnostic tests to help improve treatment for certain types of cancer, improve matches for organ transplants, and avoid serious side effects or help to find the right dosage of drugs such as Warfarin. These advances are just the tip of the iceberg. The market for personalized medicine is growing by 24 percent annually and has already reached $13 billion (USD), according to a 2009 industry report by Bain & Company.