Guest column: The real cost of drug development
Biotech Voices is a collection of exclusive opinion editorials from some of the leading voices in biopharma on the biggest industry questions today. Think you have a voice that should be heard? Reach out to Amber Tong.
Pundits of drug development costs use very different models in computing the true spend in developing drugs. At one end of the spectrum is the pharma model: Take all the R&D costs over a decade, and divide by the number of drug approvals in a similar time frame. This gives an industry average of over a billion dollars per drug and includes the cost of drug failures and repeated indications before a successful one is achieved.
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