Report underscores value of innovation for patients with unmet medical needsWASHINGTON, Jan. 17, 2013 /PRNewswire-USNewswire/ -- The biopharmaceutical pipeline is innovative and robust, with a high proportion of potential first-in-class medicines and therapies targeting diseases with limited treatment options, according to a new report released today by the Pharmaceutical Research and Manufacturers of America (PhRMA). (Logo: http://photos.prnewswire.com/prnh/20091027/PHRMALOGO) Watch PhRMA's live webinar about the report today at 12:00 pm EST. The report, developed by the Analysis Group and supported by PhRMA, reveals that more than 5,000 new medicines are in the pipeline globally. Of these medicines in various phases of clinical development, 70 percent are potential first-in-class medicines, which could provide exciting new approaches to treating disease for patients. "Biopharmaceutical companies, working with other partners in the American research ecosystem, have made incredible progress in helping confront some of the most challenging and costly diseases facing patients around the world," said John J. Castellani, president and CEO, PhRMA. "With more than 5,000 medicines in development for patients suffering from a wide range of diseases, there is a palpable excitement around the biopharmaceutical pipeline and the future opportunities for new, cutting-edge medicines to improve patient care and bring value to the entire U.S. health care system." Many of the new medicines in the pipeline are also for diseases for which no new therapies have been approved in the last decade. For example, there are 158 potential medicines for ovarian cancer, 19 for sickle cell disease and 41 for small cell lung cancer. Additionally, among other data in the report, the authors found that personalized medicines account for an increasing proportion of the pipeline, and the number of potential new medicines for rare diseases averaged 140 per year in the last 10 years compared to 64 in the previous decade.