Advancements in science and technology are leading to increased innovation in the biopharmaceutical industry. A promising pipeline reveals the industry's strong commitments to discovery and innovation.
Biopharmaceutical companies consistently invest in R&D. In fact, more than 500 new drugs have been approved by the FDA since the year 2000, according to PhRMA.
What does the pharmaceutical R&D process involve? According to a report created by PhRMA:
"The research and development (R&D) process that leads to new treatments and cures for patients is lengthy, challenging and subject to substantial scientific and regulatory uncertainty. In fact, only 12 percent of investigational new medicines entering the clinical trial phase are ultimately approved by the FDA. Our nation’s innovative biopharmaceutical companies invest about $75 billion a year to harness new scientific and technological advances in an effort to bring new medical advances forward."
To learn more about developments in the biopharmaceutical industry, check out this report created by the Analysis Group: The Biopharmaceutical Pipeline: Innovative Therapies in Clinical Development.
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