Pacific Biomarkers Joins Fight To Curb Out-of-Control Spending On Diabetes Treatment

Seattle, WA (I-Newswire) March 22, 2011 - Insurers and consumers spent a total of $52.2 billion in 2008 on prescription drugs for outpatient treatment of metabolic conditions such as diabetes, according to the Agency for Healthcare Research and Quality. According to data from the federal agency, purchases of metabolic drugs by adults age 18 and over accounted for 22 percent of the nearly $233 billion spent overall to buy prescription medicines in 2008.

The data were taken from the 2008 Medical Expenditure Panel Survey (MEPS), a detailed source of information on the health services used by Americans, the frequency with which they are used, the cost of those services and how they are paid.

“The metabolic agents included the subclasses of antihyperlipidemic agents and antidiabetic agents,” said Michael Murphy, PhD, the Chief Operating Officer of Pacific Biomarkers, a Seattle-based provider of biomarker laboratory services to the pharmaceutical, biotechnology and diagnostics industries. “I think the elephant in the room remains type-2 diabetes and its relationship to hyperlipidemia, cardiovascular disease, stroke and obesity.”

Dr. Murphy continued: “In 2010, there were approximately 25.6 million US residents aged 20 or older with either diagnosed or undiagnosed diabetes (approximately 95% is Type-2), constituting 11.3 percent of all people in this age group. Roughly 8.3 percent of the American population is affected by diabetes. The major increase in the number of diagnosed cases of type 2 diabetes is the fastest-growing fraction in all age groups, and medical expenses for people with diabetes are more than two times higher than for people without diabetes.”

Dr. Murphy remarked that in 2010 approximately 80% of PBI’s business has a direct connection to diabetes-related research, and a good deal of associated work is linked to the secondary impact of diabetes in the development of other ailments such as cardiovascular disease and inflammation. In addition, PBI has a significant stake in the area of treatments for obesity, a recognized high-risk factor in the development of Type 2 diabetes.

Established in 1989, PBI provides biomarker laboratory services and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The Company provides expert services in the areas of cardiovascular and musculoskeletal diseases, diabetes, obesity, and nutrition.
For more information, log on to www.pacbio.com.

Additional Images

About The Investor Relations Group:
A first-in-class online destination for investors, the public, and media interested in small-cap public companies.

Company Contact Information
The Investor Relations Group
Janet Vasquez
11 Stone Street 3rd floor
10004
Phone : 212-825-3210