Part 2/5:

This shift in the revenue profile of drugs is not yet understood by Wall Street. Cures are actually more valuable than long-term treatments, as they avoid a lifetime of healthcare costs and deliver better patient outcomes. Yet the market is still valuing curative therapies as if they are just incremental improvements over existing treatments.

The Revenue Potential of Cures

To illustrate the value of cures, Winton walks through the example of hereditary angioedema (HAE), a rare disease. The current standard of care for HAE involves monthly injections costing $500,000 per year over a patient's lifetime. In contrast, a one-time curative therapy could be priced at $3 million, yet still represent a massive cost savings for the healthcare system.