Beovu, an anti-blindness medicine manufactured by Novartis, a Swiss drugmaker, has become the latest eye drug approved by the U.S. Food and Drug Administration (FDA). This has given Novartis a boost in its sales in the increasingly competitive market to solve eye problems among the ageing population across the globe.
Beovu is injected straight into the eye to treat wet age-related macular degeneration (AMD) that has been affected by 20 million people worldwide, as claimed by Novartis. AMD is known to be a chronic and degenerative eye disease which is caused due to the presence of VEGF, a protein promoting growth of abnormal blood vessels underneath the macula, that is responsible for sharp and central vision. As the market for AMD is growing with an increasing ageing population and a lack of preventive procedures, it has been claimed that the market would double in size. The current worth of this treatment is $9 billion annually, as said by Michael Nawrath, an analyst at Zuercher Kantonalbank.
The only nearing rival to Beovu is Lucentis, sold by Roche in the United States. However, Lucentis has only seemed to gain its popularity in the States, wherein Beovu sells it across the globe. The drug has also been known to improve vision, becoming as effective as Eylea and controlling the retinal fluid, which is the hallmark of the AMD disease, giving competition to Bayer Regeneron.