The price of innovation: new estimates of drug development costs

Article Abstract:

The data, which is obtained from a survey on the research and development costs of 68 randomly selected new drugs from 10 pharmaceutical firms, is used to estimate the average pre-tax cost of new drug development. The estimated average out-of-pocket cost per new drug is US$ 403 million, but for market approval at a discount rate of 11% yields a total pre-approval cost estimate of US$ 802 million.

Science & research, Commodity & service prices, Taxes, Metabolic Agents NEC, Metabolic Agents, Taxation, Prices and rates, Company pricing policy

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Scale and scope in drug development: unpacking the advantages of size in pharmaceutical research

Article Abstract:

Research into the success of large firms to develop new pharmaceuticals is given. The research shows that large firms superior performance is driven by scope rather than scale.

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