Two recent studies, one from the USA and the other from the UK, havelooked at the importance of genomics for drug discovery and development.
Companies that make the right strategic decisions about genomics technologies and execute these plans effectively can increase the efficiency of R&D, resulting in significant productivity gains and cutting up to $300 million and two years' development time per novel drug, according to the Boston Consulting Group's report, entitled A Revolution in R&D: The Impact of Genomics. The report also sets the estimate of current drug development at $880 million, which it notes is considerably above widely-regarded figures cited by the pharmaceutical industry.
The only real way for companies to ensure that they will be able to meet the double-digit annual growth expectations implied by high market capitalization is to increase R&D productivity, the report points out, noting that the present standard responses of scale up or buying-in drug candidates are not the answer. Traditional approaches, such as increasing efficiency or reducing failure rates along the value chain for increasing productivity, have gone about as far as they can go, but genomics can increase productivity, it states.
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