The popular view of drug development is that it is fantastically expensive undertaking. The most recent cost estimate (according to research published by the Tufts Center for the Study of Drug Development) is a whopping $1.3 billion.
Some would say that such a high cost is advantageous to the pharma industry since it creates a powerful argument for premium pricing and patent term extension.
But is the number true?
A recent report in the London School of Economics journal BioSocieties by Donald Light (University of Medicine & Dentistry of New Jersey/Stanford University) and Rebecca Warburton (University of Victoria) casts doubt on the hefty price tag.
To read the full, original article click on this link: How much does it cost to develop a new drug? « The RIC Blog
Author: John McCulloch
