Who Pays For Your Medication

These are the industries attracting the most venture capital

In terms of global venture capital investment, the United States leads the way

Venture capital - the money provided by investors to startup firms and small businesses showing potential for long-term growth – is generally thought of as “good capital”.

It promotes innovation and long-term investment, but not all industries manage to attract enough of it.

Industry investment

In terms of global venture capital investment, the United States is leading the way-with an estimated $58.8 billion invested across the country in 2015.

The chart below shows the top 10 industries that are attracting the most venture capital investment:

Software investment accounts for 36.2% of US VC funding, while biotechnology comes second with 17.3%. Media and entertainment rounds off the top three with 9.5%.

Other areas of growth and innovation include information technology services, medical devices and equipment and industrial energy.

Lower levels of investment are in financial services, consumer products and telecommunications.

Growth of technology

With the dawn of the Fourth Industrial Revolution heralding an ever-greater use of technology, it is no surprise that much VC investment goes to software companies. In the second quarter of 2016, the value of VC investments in the US software industry amounted to approximately $8.74 billion dollars.

Phone- based apps are some of the most valuable start-ups in the world with many using VC funding to enable global expansion.

Fastest Growing Pharmaceutical Classes Today and Beyond

Luca Dezzani, MD

With the increasing prevalence of different health conditions requiring expensive lifelong treatment, the global sales of therapeutics have been expected to skyrocket in the coming years. In the year 2015, pharmaceutical spending in the United States has reached 1 112.2 USD per capita. This covers expenditures on both prescription medicines as well as self-medication or over-the-counter products.

According to a report published by IMS Institute for Healthcare Informatics, therapeutic classes with the highest level of spending account for 42% of the total pharmaceutical spending. These include treatment for chronic conditions such as cancer, diabetes, and asthma/COPD. Moreover, among these top classes, seven of which are specialty medicines known to have novel mechanisms and improved efficacy that represent the latest innovation in global medicine. Furthermore, global brand spending is also predicted to increase from $596B in 2011 to $615-645B in 2016. On the other hand, global generic spending is expected to increase from $242B to $400-430B by 2016.

The figure below conveys the top 10 therapy areas that account for a huge percentage of the total global pharmaceutical spending.

Oncologics ($83 – 88 B)

In 2014, Rituxan developed by the pharmaceutical company, Roche, was ranked as the top-selling cancer drug that generated total sales of $7546M. By the year 2020, Roche will concede long-running possession of the biggest selling oncology brand. It was predicted that Celgene’s Revlimid will take the top spot with $10110M in total sales.

Antidiabetics ($48 – 53 B)

Based on the 2015 revenue, Lantus and Januvia are some of the top selling anti–diabetic drugs of all time. Though a decline of 10.8% in sales compared to its 2014 revenue, Lantus is still the world’s best-selling insulin brand. It actually generated $6.98B total sales and accounts for 17.2% of Sanofi-Aventis Group's aggregate net sales in 2015. On the other hand, Merck Sharp & Dohme’s Januvia was the major candidate in the company’s diabetic portfolio that accounted for 64.3% of the company's revenue from diabetes drugs in 2015.

Asthma/COPD ($44 – 48 B)

Among all respiratory products sold in the United States, GlaxoSmithKline’s Advair Diskus ranked first in the year 2015. Advair Diskus generated a total revenue of $4835M. This was followed by Boehringer Ingelheim’s Spiriva Handihaler which yielded a profit of $3404M.

Autoimmune ($33 – 36 B)

According to American Autoimmune Related Diseases Association (AARDA), autoimmune diseases affect almost 50 million Americans. Thus, global sales of autoimmune disease treatment are expected to rise in the coming years. In fact, in a market study titled “Global Autoimmune Drugs Market 2016-2020”, it was discussed that the market will grow at a compound annual growth rate of 5.57%.

Lipid Regulators ($31 – 34 B)

AstraZeneca’s Crestor was among the top-selling branded drugs in the year 2015. Its total sales reached $6,090,223,570 which ranked 5th among the top 100 brands. Crestor was also considered as the most prescribed branded drug in the United States, which accounted for approximately 21 million prescriptions.

Angiotensin II ($22 – 25 B)

According to the World Health Organization, elevated blood pressure is estimated to cause 7.5 million deaths, about 12.8% of the total of all deaths. This accounts for 57 million disability-adjusted life years (DALYS) or 3.7% of total DALYS. Hence, interventions to manage such condition have been widely available in order to minimize the risk of developing serious health complications such as coronary heart disease.

HIV Antivirals ($22 – 25 B)

HIV remains one of the major challenges in public health, particularly in low- and middle-income countries. Advancement in technology has led to the development of therapeutic drugs to improve the quality and prolong the lives of HIV patients. In fact, out of 36.7 million HIV patients, 46% of them have access to antiretroviral therapy (ART).

Antipsychotics ($22 – 25 B)

In a report published by the National Alliance on Mental Illness (NAMI), approximately 1 in 25 adults in the U.S. experiences a serious mental illness in a given year that substantially interferes with or limits one or more major life activities. However, not all patients have access to proper and adequate treatment, which may eventually lead to the development of chronic medical conditions. Aside from this, another problem that may arise as a consequence of this issue is its negative impact on the economy. In fact, serious mental illness costs America $193.2 billion in lost earnings per year.

Vaccines ($19 -22 B)

Through the goal of providing health for all, immunization programs conducted in different parts of the world have boosted the sales of vaccines. Considering the estimated profit in the year 2015 and the projected revenue in the year 2022, Pfizer and Daewoong’s Prevnar 13 bagged the top spot. This was followed by Merck & Co.’s Gardasil, Sanofi’s Fluxone / Vaxigrip and Pentacel, and lastly, GlaxoSmithKline’s Pediarix.

Immunostimulants ($16 – 18 B)

Immunostimulants are divided into two categories: specific and nonspecific. Specific immunostimulants stimulate an immune response to specific antigenic types, while nonspecific immunostimulants do not have antigenic specificity and are widely used in chronic infections, immunodeficiency, autoimmunity and neoplastic diseases. One of the most commonly prescribed immunostimulants is Provenge, a registered trademark of Dendreon Corporation.

'It was a ghost town': Shoppers reveal why they've abandoned Sears and Kmart

A Kmart store in Richmond, Virginia. Business Insider/Hayley Peterson

Hayley Peterson

Sears and Kmart, once America's leading retailers, are bleeding cash and shutting down stores, as once loyal shoppers abandon them in droves. 

Sears' sales have dropped from $41 billion in 2000 to $15 billion in 2015.

Kmart, which merged with Sears in 2005, has seen its sales plunge from $37 billion to $10 billion in the same period. 

In interviews with more than a dozen long-time customers of the two stores, people repeatedly cited the same reasons for taking their business elsewhere: lack of customer service, poor-quality products, a lengthy checkout process, and messy, "depressing" stores.

Here's what they told us.

'I have to beg them' to take my money

Several people claimed that they were unable to find any cashiers when trying to check out. 

Robert Hoke, 69, of Baltimore, Maryland, said he has been a loyal Sears customer for life. 

"Sears was my go-to store for just about everything," he said. "Now I do my best to avoid going into the local store."

He said he's visited the store about six times in the last two years and only once made a purchase. 

"It is really bad when you have to go through a frustrating ordeal just to get them to take your money," he said. "It's like I have to beg them to take it!" 

Hoke said he went to Sears a couple months ago to buy a new lawn mower, but left and went to Home Depot when he couldn't find anyone to help him. 

A Sears store in Richmond, Virginia. Sears

"It's not a mystery as to why Sears is bleeding cash," he said. "Actually the 'cash' is walking out the door unspent, or even worse, it has just stopped entering altogether. No bogus rewards program or selling cheap stuff for cheap pricing will stop that from happening."

Hoke isn't the only customer who has complained about understaffing. 

"I have been in the store several times and there is no presence of sales associates, only a cashier," said Gary Herndon, who said he was a Sears employee of 40 years and a long-time shopper. "If someone needed help with a tractor or mower, they would mostly likely walk out and go to Lowe's because the store was so inadequately staffed." 

Steve Hall of Baton Rouge, Louisiana, recently tried to buy a weed eater at Sears and said, "What I thought would take 15 minutes max turned into a 30-plus-minute ordeal."

"I could not find an available cashier," he said. "When someone showed up after 10 minutes, he had problems scanning the UPC code. He also had problems entering my gift cards ... They didn't care whether or not I bought it. I will not go again."

A Kmart store entrance in Tinley Park, Illinois. Gary Hayslett

Rick Arnold of Salt Lake City Utah also complained about the lack of available cashiers, as well as "outdated technology" and empty shelves. 

"Sears was an icon. It was the place to go to buy just about anything," Arnold said. Now if you're "lucky enough to find what you are looking for and then want a speedy checkout process you are faced with long checkout lines."

Arnold thinks Sears won't last much longer.

"The end is near," he said. "The store I grew up with will be just a memory. So sad." 

'They are committing suicide'

Some customers claimed that the quality of Sears' products has declined over the years.

"When I walked into a Sears store 10 to 15 years ago I knew automatically that I would pay more for whatever I bought, but I was confident that it would be top quality," said Tilmon Strickland of Ada, Oklahoma. "But today, I don't buy anything from Sears. The appliances are very cheaply made and won't last." 

A Sears store in Richmond, Virginia. Sears

Charles Tucker of Exeter, New Hampshire, said he and his father were lifetime Sears customers. He said he still has some of his Sears Craftsman tools from the 1960s, but newer tools don't last.

When Sears sent him a new credit card in the mail recently, he said, "I just cut it up. Sears put a lot of small retailers out of business 100-plus years ago. Now they are committing suicide."

In response to the customer complaints described in this story, Sears spokesman Brian Hanover said the company is constantly getting feedback from customers and that most of it is positive.

"We constantly solicit feedback from our tens of millions of members and customers, as well as provide a variety of ways for them to provide it unsolicited and authentically back to us," he said. "The feedback you described is not reflective of the vast majority of comments and scores we receive and does not depict a typical member experience."

He said customer satisfaction scores have improved for both Sears and Kmart year-over-year.

"Regardless, we appreciate this additional feedback and know there are instances when we can do better," he said. "We will continue to enhance our operations and provide our members with superior service while they shop their way."

'Heaven help you if somebody needs a price check'

Employee incentives to get customers signed up for the company's Shop Your Way rewards program and credit cards have also been a headache for customers.

"They have so many questions that the checkout person needs to ask each and every customer to try and sway them into some sort of loyalty program," shopper Samuel J. Ely said. "They want my phone number, address, email, etc. Even the card swiper wants all kinds of things."

He compared checking out at Sears to a crossing point for the Berlin Wall.

"The annoyance really starts the moment you get in the long line and have to wait for the other customers in front of you to go through Checkpoint Charlie," he said. "Heaven help you if somebody needs a price check."

The loyalty program also makes things confusing when trying to get a price on something, Ely claimed. 

After purchasing a house, Ely said he went to Sears to buy all new appliances. He ended up leaving without buying anything, however, because he said it was too confusing to get a bottom-line price on the appliances with all the possible combinations of discounts and loyalty rewards that a salesperson was pitching to him. Ely left the Sears store and went to Lowe's instead, and said he spent $8,000 on his appliances there. 

"Ever since then, I avoid Kmart like the plague and I don't shop at Sears at all," he said. 

Herndon, the 40-year Sears employee, agreed that the Shop Your Way program is "a misery for both employees and customers."

"When a customer came to get checked out they were presented with: Sign up for Shop Your Way rewards, get their email address, sell a maintenance agreement ... or a repair agreement on smaller items, try to get them to open a charge account, ask them to call in a customer-service survey — and by the time all of this was presented, many customers were angry and just wanted to pay for their purchase and get out."

'It was a ghost town'

Customers also complained that the stores are in total disarray. 

"The Tinley Park, Illinois, Kmart is sad and depressing," said Gary Hayslett, of Tinley Park, Illinois.

During a recent trip, he said he saw two cashiers in the store and only one other shopper. He said Kmart stores have been using sheets and shower curtains for years to hide empty shelves and closed departments, and that many of the registers are broken and covered with cardboard.

A Kmart store in Hillsboro, Ohio. Mark Schmidt

A Kmart store in Tinley Park, Illinois. Gary Hayslett

He also noted that the Tinley Park store appears to be renting out part of its parking lot to a local car dealer for car storage. 

"Kmart made a huge impression on me as a child. At one point I had hoped to work there," Hayslett said. "I watched as Kmart overtook Sears as the nation’s No. 1 retailer in sales. And I’ve watched with dismay as Kmart has fallen from grace to irrelevancy."

Shopper Jeff Magnet of Newton, Massachusetts, said he visited the Kmart store in Tulsa, Oklahoma, a couple weeks ago and found a similarly depressing scene.

"It was like a haunted house," he said. "A real mess."

Another customer, Paul Martin, compared his local Sears — where he said he and his wife worked in the 1990s — to a "ghost town." 

"Last time I was in the store where we once proudly worked, it was a ghost town," Martin said. "Very sad to see a once great retail giant at its end."

The 19 coolest new businesses in San Francisco

• Tanza Loudenback
 

San Francisco has long been the hub for huge Silicon Valley tech companies — but it's also home to some seriously cool local businesses.

From a 2.5-ton mobile pizza oven and a beef-jerky bar to the city's first indoor golf course, we're highlighting some of the newest and coolest businesses in San Francisco.

Scroll through to check them out.

Ampersand

Facebook/Ampersand

80 Albion St., ​The Mission

What it is: A mood-boosting flower shop and studio.

Why it's cool: Step through the shop's unmistakable bright-turquoise doors and into a design studio and flower shop that feels like a fresh and fun gathering space. Ampersand sells California-grown flowers by the stem and designs for weddings, and it puts together custom arrangements and wreaths too.

Ampersand's customers praise the shop's owners, Benjamin and Emerson, for their expertise, originality, and charm.

Del Popolo

Facebook/Del Popolo

Around SF and (coming soon to) 855 Bush St., Dogpatch

What it is: A 2.5-ton pizza oven on wheels.

Why it's cool: Chef Jon Darsky has been serving Neapolitan-style pizza from a 5,000-pound wood-fired oven housed in a 20-foot shipping container since 2012, earning a mass of Bay Area loyalists. Del Popolo — Italian for "of the people" — is so popular the team behind the pies is planning to open its first brick-and-mortar location by the end of the year.

While the forthcoming restaurant will feature the food truck's signature thin-crust, natural- yeast pizza, it's adding to the menu Italian appetizers and salads and more beer and wine.

Eatsa

Jillian D'Onfro/Business Insider

121 Spear St., SoMa

What it is: A restaurant where robots serve quinoa bowls.

Why it's cool: This vegetarian restaurant specializes in $7 quinoa bowls that use fresh ingredients. Quinoa is a superfood that requires far less energy to produce than any animal-based proteins, according to Eatsa's website, making it good for both people and the planet.

Eatsa uses technology to automate its two-step process: Customers place their order on an iPad, then they wait for their name to appear on an LCD-screened cubby when the order's up. Of course there's kitchen staff creating each meal behind the scenes, but the illusion of being served by a robot is what makes this fast-casual restaurant one of a kind.

Gather

Facebook/Gather

541 Octavia St., Hayes Valley

What it is: A boutique that sells unique gifts made by local artisans.

Why it's cool: Gather doubles as an event space and shop selling a whimsical selection of the best and coolest locally handcraftedclothing and home goods in San Francisco. The husband-and-wife pair behind Gather build connections with customers and craftsmen by hosting monthly events like workshops and trunk shows.

The shop shelves everything from "California Love"-flavored chocolate bars and handmade jewelry to "West Coaster" T-shirts and onesies.

Imperfect

Facebook/Imperfect

Online, based in San Francisco

What it is: A startup that delivers "ugly" produce to fight food waste.

Why it's cool: In 2011, entrepreneurs Ben Simon and Ben Chesler launched the Food Recovery Network to fight food waste in campus dining halls. Now they're saving tons of misshapen produce from going to waste too.

According to Imperfect's website, each year 20% of produce is turned away from grocery stores based on appearance. For under $20, Imperfect customers can get a box filled with "ugly" — but completely edible — fruits and vegetables delivered to their home or office. Imperfect also has an option to donate a box of produce to a family in need for $12.

KitTea

Facebook/KitTea

96 Gough St., Hayes Valley

What it is: The city's first Japanese-style cat café.

Why it's cool: This charming cat lounge and tea house is co-owned by a pair of Silicon Valley techies who discovered SF's need for a respite from the pressures of the tech world.

KitTea offers yoga and movie nights with free-roaming, adoptable cats in partnership with Petco Foundation. Reservations for an hour of cat cuddle time and endless tea cost $25 on the weekend or $17.50 on a weekday, and they can be made online.

Milk Stork

Facebook/Milk Stork

Online, based in the Bay Area

What it is: A service that delivers breast milk to working moms.

Why it's cool: Breastfeeding rates are on the rise in the US, and one of a working mom's greatest challenges can be getting breast milk back to her baby while traveling. In August, Bay Area mom Kate Torgersen created a solution: Milk Stork, a company that enables mothers to send refrigerated and protected breast milk back home while traveling for work.

For $99 per day away, mothers can order supplies through Milk Stork's website and receive breast-milk storage bags and prepaid, pharmaceutical-grade shipping coolers at their destination. Milk Stork will ship up to 34 oz. of breast milk per day for next-day delivery anywhere in the continental US.

Move Loot

Move Loot/Screenshot

Online, based in San Francisco

What it is: An online consignment store for furniture.

Why it's cool: Move Loot is a full-service marketplace, offering pickup, delivery, listings, and storage for your unused furniture. It's operating in the Bay Area, Los Angeles, New York City, Raleigh-Durham, Charlotte, and Atlanta, where it has its own warehousing and logistics platforms to help customers move furniture in and out of their homes.

The chic alternative to Craigslist was started as an Indiegogo campaign to help reduce the 10.8 million tons of furniture that ends up in landfills every year — in 2014, the company saved 605 tons of furniture from going to landfills.

Mr. Holmes Bakehouse

Facebook/Mr. Holmes Bakehouse

1042 Larkin St., Nob Hill

What it is: San Francisco's hottest "cruffin" bakery.

Why it's cool: Mr. Holmes Bakehouse has taken the cronut one step further and popularized the "cruffin" — a large croissant-donut shaped like a muffin and filled with crème or jam. This stylish pastry shop starts serving daily special cruffins at 9 a.m. every day and often sells out by noon.

Flavors range from Chocolate Pomegranate and White Chocolate Cheesecake to Earl Grey Truffle and Prickly Pear Matcha. Don't forget to take a photo in front of the store's signature "I got baked in San Francisco" sign.

Mrs. Peasy

Facebook/Mrs. Peasy

Online, serving San Francisco

What it is: A dinner party in a box.

Why it's cool: This one-of-a-kind rental service makes it easy for dinner party hosts to throw the soiree of their dreams. Mrs. Peasy herself, Jennine Jacob, is a former NYC style blogger who launched the business in June to help busy people create beautifully designed settings for every occasion.

With more than two dozen party themes to choose from, clients can rent a box filled with everything from cake stands to cutlery for costs ranging from $25 to $600, depending on how many guests they're serving. Mrs. Peasy also offers a $75, one-hour or less set-up and styling fee for any party hosts who want to leave it all to the pros.

Old Bus Tavern

Facebook/Old Bus Tavern

3193 Mission St., Bernal Heights

What it is: A brewpub inspired by the owners' beloved Volkswagen bus.

Why it's cool: This neighborhood favorite opened in July as a full-service restaurant and steam-fired, four-barrel brewery. In addition to its five in-house brews, Old Bus Tavern has fourteen taps featuring a rotating selection of local craft beers and a small but wide-ranging food menu from bar bites to entrées, many of which include house brewery ingredients.

Thanks to a hugely successful Indiegogo campaign that raised over $23,000 last spring, the crew at Old Bus Tavern is working on retrofitting a VW bus to serve homemade chili and craft beer around San Francisco.

Parenthoods

Facebook/Parenthoods

Online, based in San Francisco

What it is: A social network for Bay Area moms and dads.

Why it's cool: Parenthoods was cofounded in 2014 by two San Francisco-based moms hoping to provide a mobile community for parents to offer stories and advice, plan playdates, find reliable childcare, and even buy or sell things like children's clothing on its iOS app.

Parenthoods, which had raised $1.3 million in capital as of March, is largely run out of its app, but it also hosts a blog on its website with original content for local parents. The free app boasts five stars on iTunes and reviewers say it's a great way to feel connected and meet other parents in the community.

The Happy Home Company

Happy Home Company/Screenshot

Online, based in San Francisco

What it is: An on-demand landlord for homeowners.

Why it's cool: This referral service connects homeowners with quality service providers in their area to help with household tasks, such as plumbing, roofing, and landscaping.

The Happy Home Company assigns each client a "home manager" — an employee who files the client's household task and sources it out to reliable and top-rated professionals to get the job done. Clients who use the app say they're able to get more done around the house with less hassle.

The Interval

Facebook/The Interval

2 Marina Blvd., Fort Mason

What it is: An old-timey coffeehouse, bar, and event space.

Why it's cool: Located in San Francisco's historic Fort Mason Center, The Interval is home to The Long Now Foundation, an organization that fosters long-term thinking projects. The space is steps from the water with views of Alcatraz and the Golden Gate Bridge, and it serves as a library, coffee and cocktail bar, and museum.

The Interval holds weekly "salon talks" with authors ("The Martian" author Andy Weir made an appearance in October), academics, and artists and is also available to rent for business meetings and friendly gatherings.

Third Rail

Facebook/Third Rail

628 20th St., Dogpatch

What it is: A late-night cocktail and beef-jerky dive.

Why it's cool: Third Rail is the brainchild of Chef Phil West and barkeep Jeff Lyon, a pair of restaurateurs committed to fresh seasonal food and drink.

Third Rail boasts 10 types of dried and cured meats (and even a mushroom vegetarian option), specialty whiskey and jerky pairings, and cocktails adorned with hand-cut ice. For $10, bargoers can enjoy the "Rail Shot" — an 8-oz. beer, 1-oz. shot of liquor, and half ounce of jerky of their choice.

Sundays by San Franpsycho

YouTube/San Franpsycho

1248 9th Ave., Inner Sunset

What it is: A coffee and ice-cream shop operated by a duo of SF retailers.

Why it's cool: Ten years ago, a pair of California surfers launched San Franpyscho, a clothing and lifestyle brand focused on working with local artists to create community-inspired products.

This summer, the San Franpsycho owners opened an ice-cream bar and coffee shop at their Inner Sunset retail store. Sundays serves organic, small-batch, and locally sourced goods and provides a fun place to gather and shop.

Tinsel

Facebook/Tinsel

Online, based in San Francisco

What it is: An early-stage wearable tech-apparel company.

Why it's cool: Tinsel is making tech an accessory for women by combining headphones and beautifully designed jewelry. The company's debut product, an "audio necklace" called The Dipper, is available through its Indiegogo campaign, where they're selling for $150 and will retail for $199 by next spring.

Each necklace doubles as a set of headphones complete with a 3.5-mm audio jack concealed beneath a stainless-steel necklace to ensure lightweight comfort and no cord tangling. And when they're not in use, the earbuds fold neatly into the necklace's pendant.

Urban Putt

Facebook/Urban Putt

1096 South Van Ness Ave., The Mission

What it is: The city's only indoor mini-golf course and bar-restaurant.

Why it's cool: Urban Putt opened last year in the heart of The Mission. A lively addition to an already robust neighborhood, Urban Putt isn't a kitschy date spot — it's an expertly designed, Bay Area-inspired miniature golf course that pairs nicely with a beer or cocktail and refined bar bites.

Post-putt, head upstairs to the restaurant to try one of the chef's deep-dish pizzas. The space can also be reserved or rented out for large groups and parties.

Whitechapel

Courtesy of allisonwebber.photography

600 Polk St., Civic Center

What it is: An underground bar for gin lovers.

Why it's cool: A trio of award-winning Bay Area restaurateurs are behind Whitechapel, a charming trip back in time filled with vintage artifacts, ornate tile work, and vaulted ceilings meant to replicate the London Underground subway system.

The Victorian-era space, which opened in October, is divided into three areas: a bar, a distillery, and a restaurant whose menu has unique takes on London's favorite pub snacks and entrées. But the main event at Whitechapel is its 370 gins and 100 gin-based cocktails available to order, making it the largest selection of gin in North America.