RBCC: Personalized Medicine Poised to Revolutionize Insurance & Pharmaceuticals
RBCC: Personalized Medicine Poised to Revolutionize Insurance & Pharmaceuticals
NOKOMIS, Fla.--(BUSINESS WIRE)-- With the surging trend of personalized genomic medicine poised to radically change not only the way that pharmaceutical companies develop drugs, but the way insurance companies administer healthcare plans, Rainbow Coral Corp. (OTCBB: RBCC) is forging ahead with plans for new partnerships in both genetic testing and companion diagnostics.
The personalized medicine market in the U.S. is expanding rapidly, with PricewaterhouseCoopers predicting that the sector could grow to as much as $452 billion by 2015. One of the driving forces behind this expansion is the inefficient way in which drugs are currently produced. Because insurance companies are highly reluctant to pay for drugs that don't work, pharmaceutical companies are beginning to use data derived from personalized genome testing to indicate which drugs will work for specific patients—making a stronger case for payer reimbursement.
MedCityNews reported last month that 65 percent of pharmaceutical giant AstraZeneca's drug pipeline is being developed as personalized medicine, for example. RBCC believes that percentage will continue to rise as insurance companies begin to mandate genetic testing for patients before agreeing to pay for new prescriptions.
"It changes the business model completely," said RBCC CEO Patrick Brown. "Personalized medicine, including genetic testing and companion diagnostics, is already helping to develop pharmaceuticals personalized to patients. Soon, their healthcare plans will be personalized, too."
In order to capture a growing share of a personalized medicine market that RBCC expects to become increasingly lucrative, the company is seeking out new innovations and technologies poised to dramatically improve patient outcomes and reduce healthcare costs. For more information on Rainbow BioSciences' personalized medicine initiatives, please visit www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Bristol Myers Squibb Co. (NYS: BMY) , Biogen Idec Inc. (NAS: BIIB) , Abbott Laboratories (NYS: ABT) and Amgen Inc. (NAS: AMGN) .
About Rainbow BioSciences
Rainbow BioSciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (OTCBB: RBCC). The Company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. For more information on our growth-oriented business initiatives, please visit www.RainbowBioSciences.com. For investment information and performance data on the Company, please visit www.RainbowBioSciences.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Rainbow Coral Corp.
Patrick Brown, 850-269-7230
President and CEO
info@rainbowcoral.com
KEYWORDS: United States North America Florida
INDUSTRY KEYWORDS:
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