Future of Clinical Research: Focusing on New Drug Costs
The objective of this study is to examine the future of clinical research with a focus on new drug costs. Toward this end three reports will be examined that analyze this issue. Drug development costs are unbelievably high and this results in pharmaceutical companies being slow to develop drugs.
Forbes Report
According to a report published by 'Forbes' there is "one factor, as much as anything else, determines how many medicines are invented, what diseases they treat, and, to an extent, what price patients must pay for them: the cost of inventing and developing a new drug, a cost driven by the uncomfortable fact than 95% of the experimental medicines that are studied in humans fail to be both effective and safe." (Herper, 2013, p. 1) Forbes reports that in an analysis conducted that findings show that "A company hoping to get a single drug to market can expect to have spent $350 million before the medicine is available for sale. In part because so many drugs fail, large pharmaceutical companies that are working on dozens of drug projects at once spend $5 billion per new medicine." (Herper, 2013, p.1) This is an outrageous amount...
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