Bloomberg New Economy Coalitions
Bloomberg New Economy Coalitions are community-led initiatives that bring together leading experts across the public and private sectors for dialogue and coordinated action on urgent global challenges.
In 2019, at the Bloomberg New Economy Forum in Beijing, a group of U.S-China experts convened to strategize areas where the two countries could collaborate. The expert group, co-led by Asia Society and Memorial Sloan Kettering Cancer Center, alongside Chinese and international bio-pharma companies, put forward the idea of strengthening international clinical trial collaboration with the goal of accelerating development, access and approvals cancer treatments that could save millions of lives. The Bloomberg New Economy International Cancer Coalition was born.
International Cancer Coalition
10 million people die of cancer globally each year¹. While the scientific community has made remarkable strides in delivering breakthrough therapies, we continue to face challenges in cancer drug development in terms of access to clinical trials, diversity and speed to market. The average development timeline for a cancer drug is 9.4 years². Clinical trials represent the critical step of translating scientific discovery to clinical practice, thus saving lives, yet only 2-8% of cancer patients are enrolled on to clinical trials³. The Bloomberg International Cancer Coalition is working to tackle these challenges.
There is also a major opportunity to advocate for greater cancer collaboration globally, especially between the U.S. and China. This type of cooperation on clinical trials has already demonstrated the potential for life-saving advances, cutting approval times by 7-8 years⁴. In the US and China, cancer is one of the leading causes of death. Elevating cancer cooperation to the bilateral agenda could offer a much needed diplomatic victory for a fraught relationship and, more importantly, serve as a catalyst to delivering more effective new treatments to patients in need.
Sources: 1. World Health Organization; 2. PharmaProjects 2020, McKinsey; 3. Murthy JAMA 2004 and Unger JNCI 2019 ; 4. Sotorasib for Lung Cancers, New England Journal of Medicine, June 2021
Co-chaired by Kevin Rudd, President and CEO of the Asia Society and former Prime Minister of Australia and Stefan Oelrich, Member of the Board of Management of Bayer AG and President Pharmaceuticals, The International Cancer Coalition is composed of CEOs and senior representatives from the leading global pharmaceutical, biotech and diagnostic companies, senior representatives from regulatory bodies, and researchers and academics from major cancer centers and universities worldwide.
The Honorable Kevin Rudd AC26th Prime Minister of Australia
President and Chief Executive Officer, Asia Society
Stefan OelrichPresident Bayer Pharmaceauticals
Monica BertagnolliProfessor of Surgery Harvard Medical School; Dana Farber/Brigham & Women’s Cancer Center
Bob LiPhysician Ambassador to China and Asia-Pacific Memorial Sloan Kettering Cancer Center
Otis W. BrawleyBloomberg Distinguished Professor of Oncology and Epidemiology Johns Hopkins University
Elizabeth FranklinCEO Cancer Support Community
Richard PazdurDirector, Oncology Center of Excellence; Acting Director, Office of Hematology and Oncology Products, U.S. FDA
P.K. MorrowVice President of Global Development and Therapeutic Area Head of Hematology Amgen
The International Cancer Coalition is currently working towards a recommendation paper on “Reimagining Clinical Cancer Trials” and for the following commitments from the key stakeholders in the cancer ecosystem.
- Pharmaceutical industry commits to implement clinical cancer trials that are more patient-centric, improving access and diversity and removing barriers to participation.
- Diagnostic companies commit to develop diagnostic solutions for community care and underserved areas to accelerate trial enrollment and foster diversity.
- Regulatory authorities consider expanding their existing cross-regional efforts on regulatory harmonization to avoid data / trial redundancy and filing delays.
- Patient advocacy groups and non-profit organizations commit to using their work with patients to contribute unique insights on patient needs that will help design innovative clinical trial approaches that are equitable and patient-centric.
In Partnership with
The work of the International Cancer Coalition is in collaboration with Asia Society, Memorial Sloan Kettering Cancer Center and our Knowledge Partner, McKinsey & Company.