by Ruder Finn Pharma International
One of the most well known pharmaceutical industry arguments used justify positioning on issues ranging from drug prices to patent terms, rests on the long time scale and enormous financial investment required to bring each new pharmaceutical product to market. Cost and time factors vary from the 10-12 years and L200 million ($320 million) said to be the average for bringing a drug through the R&D process. Since clinical trials represent one of the largest single investments behind any marketed pharmaceutical product, some non-traditional approaches to enhance the drug development process can offer advantages.
Dr David Thomas, General Manager of International Clinical Research at the contract research company, Innovex, explains,"If you consider that seven eighths [7/8] of the cost of a product development programme are spent in the late phase II and phase III, any improvements in performance parameters such as patient recruitment, may lead to significant economic advantages."
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