A collection of engaging infographics from healthcare influencers that reveals trends in pharmaceutical drug development cost and focus.
Since 2000, the average cost for pharmaceutical manufacturers to develop a new product increased significantly. Breakthrough therapies that once cost well below $1 billion to commercialize now cost 2 or 3 times more, according to Adherely.
To put the chances of drug development failure in perspective, ePharmacology's graphic shows that out of the 10,000 compounds that enter drug discovery and the 250 that reach pre-clinical development, only 1 compound will reach commercialization.
The pharmaceutical research and development market sits around one-quarter of a trillion dollars, according to ISR reports. The same report also concludes that the smaller CRO market will grow over 7% to $34 billion over the next few years.
To understand where big pharma spends their drug development dollars, Adherely identifies the major cost drivers, including: buildings, administration fees, equipment, patent legality, trial fees, medical communication, software and promotion.
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