Blockbuster cancer treatments give US drugmakers a boost

New York

US drugmakers got a strong start to the year with help from the newest cancer medications, which take advantage of cutting-edge research and have the price tags to prove it.

Pfizer Inc, Merck & Co and Bristol-Myers Squibb Co all beat Wall Street's earnings projections in the first quarter, with sales of their new oncology drugs surpassing expectations. Analysts estimate each drugmaker will have a multi-billion-dollar blockbuster cancer treatment by 2018. Cancer is one of the biggest targets for drugmakers right now, with scientific breakthroughs helping fuel a series of new drugs.