Maximizing Efficiencies In Site Enrollment

By Anuj Thapar, E-Feasibility Product Manager, TransPerfect

I don’t know about you, but when I look at the costs associated with the drug development lifecycle, I can’t help but be astonished. Recently, I read that the cost of developing a new drug and bringing it to market is estimated to be more than $2.5 billion, not including the costs involving post-approval development. It is no small feat to bring a treatment to market. According to Pharmaceutical Research and Manufacturers of America, out of every 10,000 chemical compounds discovered, only one is eventually approved by the FDA—with the entire process taking up to 15 years!

The above figures really come into perspective when you consider a 15-year cycle, the number of clinical trials that need to be successful, and the mountains of safety and efficacy evidence that needs to be amassed. This gives pharmaceutical companies a very short window to recover the cost of drug development before the patents expire. Moreover, these facts don’t even account for the sunk costs of discovered compounds that do not make it to market.

Cost and the drug development lifecycle go hand in hand. Longer lifecycles mean more associated expenses. So, what can pharma companies do to reduce costs and shorten the drug discovery lifecycle?