April 8, 2015
In July, 2012, President Obama signed into law the Creating Hope Act for the purpose of incentivizing pharmaceutical companies, biotech firms and universities in seeking cures for what are known as Rare Children’s Diseases. Childhood Cancer is considered such a Rare Children’s Disease. Companies that are successful receiving approval from the FDA of drugs that meet the criteria of the Act receive vouchers that can be valuable to the companies in their efforts to bring other drugs to the market or, if they wish, can result in the sales of the vouchers by the companies to other companies at substantial prices. On March 10, 2015 a new drug specifically for children, aimed at high-risk neuroblastoma received FDA approval thanks to the Creating Hope Act.
