Fixing a broken drug development process
It costs about $1.2 billion to bring a single new drug to market in the U.S. today. With a combination of high late-stage failure rates and the high cost of drug trials, the number of new drugs being approved by the FDA has flat-lined at historically low levels, falling from 53 in 1996 to just 19 in 2009. If the cost of drug trials doesn’t come down, we will see far fewer new drugs on pharmacy shelves.
 Pharmaceutical Research and Manufacturers of America Profile 2009. Washington, DC: PhRMA.
 Hughes B. 2009 Drug Approvals. Nature Reviews Drug Discovery 9, 89-92 (February 2010)
Full details at the Journal of Commercial Biotechnology
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