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Increasing Investment Needed to Develop a New Drug
An analysis by Dr. Michael Dickson and Dr. Jean Paul Gagnon looks at the major capital, human, and technological investment required to develop new medicines and explains why the cost and uncertainty of discovery are rising. The authors discuss the evolution of the pharmaceutical research and development (R&D) environment, which has seen great increases in regulation and safety requirements. This has led to a longer development process, and a corresponding increased cost — according to the authors, the cost of new compound development has increased from $137M in 1979 to $802M in 2003. In light of these changes, we now face the pressing issue of identifying the most efficient means of bringing new medicines to patients, the authors conclude.
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