RBCC: Personalized Medicine Poised to Revolutionize Insurance &
NOKOMIS, Fla. -- April 30, 2013
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.
MedCity News 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
Rainbow BioSciences will develop new medical and research technology
innovations to compete alongside companies such as Bristol Myers Squibb Co.
(NYSE:BMY),Biogen Idec Inc. (NASDAQ:BIIB), Abbott Laboratories (NYSE:ABT)
and Amgen Inc. (NASDAQ: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 visitwww.RainbowBioSciences.com. For investment information and
performance data on the Company, please
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
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