2009
DOI: 10.1503/cmaj.082040
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Drug development cost estimates hard to swallow

Abstract: a trio of economists from the United States wrote about a number. Soon after, that number began popping up all over the place-in newspapers and political speeches, on television and the Internet. But the figure, despite reaching nearcanonical status, drew criticism. Some said it was inflated. Less diplomatic detractors said it was a 9-digit fairy tale. That number was 802 000 000. It was, according to the 2003 study, the number of US dollars that pharmaceutical companies spent, on average, to bring a new drug … Show more

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Cited by 84 publications
(53 citation statements)
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“…On average, approximately US$800 million was spent in 2003 by pharmaceutical companies in order to bring one new drug to the market (74). With the rapid rising of costs for research and development in drug industries particularly in the cost of clinical trials, the average funds required had swelled to US$1.7 billion in 2009 (75). Although these are examples for pharmaceutical drugs, the use of e-cigarettes for therapeutic purposes needs to be proven as safe for human consumption.…”
Section: Resultsmentioning
confidence: 99%
“…On average, approximately US$800 million was spent in 2003 by pharmaceutical companies in order to bring one new drug to the market (74). With the rapid rising of costs for research and development in drug industries particularly in the cost of clinical trials, the average funds required had swelled to US$1.7 billion in 2009 (75). Although these are examples for pharmaceutical drugs, the use of e-cigarettes for therapeutic purposes needs to be proven as safe for human consumption.…”
Section: Resultsmentioning
confidence: 99%
“…Despite the significant time and costs invested in drug development, the reported success rate is only 8% [7,8]. To guide clinical researchers to better design clinical trials and potentially improve the likelihood of FDA approval, we studied the concerns addressed by the ODAC on rejected drug applications and identified factors associated with FDA approval.…”
Section: Discussionmentioning
confidence: 99%
“…In addition,these clinical studies require hundreds tothousands of patients and necessitate an average of 6 years to complete [6]. It is estimated that pharmaceutical companies spend an average of $1.7 billion dollars per drug from development to market approval [7]. Despite these investments, only 40% of drug applications submitted for consideration are approved [1,8,9].…”
Section: Introductionmentioning
confidence: 99%
“…Some parts of the world like China, India, and Africa still traditional method of treatment are present and this concept is reviving again in modern practice [10]. New drugs cost a lot to bring it in market [11]. In this modern world it is need to work more on these traditional medicine and treatments [12].…”
Section: Introductionmentioning
confidence: 99%