"Majority of the 12,000 Diseases have no current effective therapy"
"Fewer than 400 approved treatments for 7,000 rare diseases"
Over 12,000 diseases as described by World Health Organization, of which 7,000 are rare diseases
"Healthcare costs for patients worldwide who have a disease with no current effective therapy is over $10T annually"
The average developed country spends $3000 per person on healthcare, so that is about half the world’s population or 3.5B people x $3000 = $100T, and the rest of the world spends about $300 per person, or $10T, so the total spent on healthcare is $110T. We can estimate that 10% of the patients have rare diseases and decide their costs are in line with the mainstream, which is likely to be a low estimate, and that is $11T per year. And most rare diseases have no currently effective therapy.
"The FDA approved only 35 novel drugs in 2012"
"Average time for new drug development is 14 years"
"Average cost for new drug development as high as $3B"
"Repurposed drugs approach approval rates near 30%"
"Average drug can be proven ready for off-label use in 3 years or less at a cost of $250k"