New wave of blockbusters looms

A new wave of potential blockbusters or breakthrough medicines has emerged - and five of the 13 top contenders have either been approved in Australia or entered the TGA's regulatory process.

A curated list of drugs and drug candidates forecast to deliver annual sales of more than US$1 billion in 2029 and/or transform treatment paradigms has been compiled by Clarivate in its Drugs to Watch 2024 report.

Two products are already approved in Australia, including Eli Lilly's IL-23 inhibitor Omvoh, which became the first in its class registered for severely active ulcerative colitis. It's also expected to become the third in the class approved for Crohn's disease, according to Clarivate.