IS DRUG DEVELOPMENT REALLY A RISKY BUSINESS?
Yes, but it didn't need to be...
FAILURE IS NEVER FAR AWAY IN PHARMA
I’ve lifted a snippet from Find It, File It, Flog It: Pharma's Crippling Addiction and How to Cure it :
“In November 2006, the US Government Accountability Office issued a report titled NEW DRUG DEVELOPMENT: Science, Business, Regulatory, and Intellectual Property Issues Cited as Hampering Drug Development Efforts.
The figure below is a graphic that represents one of the key findings on the risk of failure in drug development.
THE PAINFUL STATISTICS
The statistics speak for themselves. For every 250 compounds that enter the development pipeline, 249 fail to reach their destinations. Is that risky enough for you?”
In a nutshell, the findings were this:
10,000 (patented) molecules screened
250 undergo preclinical development and testing
5 enter clinical development
1 gains approval
249 development candidates fail to make it
4 out of 5 clinical trials fail
It takes 10-12 years to gain approval of a development candidate
Staggering 90%+ waste,
$$$BNs in the bin.
Not…