Everyone knows what they put on the Internet is open, but most people think, ‘Nobody really cares about me, I’m not Beyonce.’ Deborah Peel, of the group Patient Privacy Rights, told Bloomberg. “They don’t realize this is the biggest business in the digital world.”
Some users of forums such as PatientsLikeMe may not enjoy the fact that their data is sold to drug companies (and some may not even know about it), but data mining the Internet for patient experiences could be a major boon to comparative effectiveness research and for public health.
Realizing that the market was probably larger than the approved patient population, Levi bet on higher sales in the first quarter this year. Sure enough, on May 8, the drugmaker reported better than expected sales of Xtandi and raised its guidance for full-year sales of the drug. Medivation shares gained as much as 8 percent in late trading after the company’s report.