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Personalized cancer therapy is no longer just an exciting prospect, and better survival rates — as well as escalating spending — are proving it. This year, President Obama announced an initiative focused on “precision medicine.” But in oncology, the model has arrived. Though molecularly targeted drugs are not yet available for most cancer patients, they account for the majority of the 45 new cancer drugs launched since 2010, the report found. And because the same mutation may drive cancer that arises in different organs, targeted drugs often get approved to treat multiple cancers. (McCollough, 5/10)

A new type of blood test is starting to transform cancer treatment, sparing some patients the surgical and needle biopsies long needed to guide their care. The tests, called liquid biopsies, capture cancer cells or DNA that tumors shed into the blood, instead of taking tissue from the tumor itself. A lot is still unknown about the value of these tests, but many doctors think they are a big advance that could make personalized medicine possible for far more people. (Marchione, 5/11)

More people are making big health decisions based on genetic tests. The industry is expected to grow to $15 billion to $25 billion in sales within six years; up from $5 billion in 2010, largely driven by the fact such tests are priced at a fraction of what they were a few years ago, and more often covered by health insurance. The number and types of tests available also have increased to more than 3,000 from about 1,700 in 2008, according to the National Human Genome Research Institute. (Hirst, 5/10)