Health / Pharma

Big data offers drugs companies potential to leverage from investments made in failed product developments

04th Dec `13, 10:18 AM in Health / Pharma

Life sciences specialist Helen Cline of Pinsent Masons, the law firm behind Out-Law.com, said pharmaceutical companies could speed…

BDMS
Guest Contributor
 

Life sciences specialist Helen Cline of Pinsent Masons, the law firm behind Out-Law.com, said pharmaceutical companies could speed up the time it takes to develop new products and launch them to market if they can find a way to glean insights from failed projects they and others have previously invested in.

Cline was commenting after a study conducted by Deloitte and Thomson Reuters found that it costs on average $1.3 billion to develop new drugs all the way from discovery through to launch. Those costs have risen from $1.1bn in 2010, the companies said. The study, into the 12 largest life sciences companies by R&D spend, said the businesses have together lost $243bn in total from “late stage terminations” over the past four years and that the companies also expect to earn on average 43% less in “peak sales” of new products now compared with in 2010.

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