Quality of Life is the Ultimate Endpoint

Did you know that only 1 in 8 drugs in development makes it to market? It is estimated by the Manhattan Institute that $4.3 billion out of every $5.8 billion spent on research and development of new therapies is misspent. That cost is felt in time and money, but even more so in lost opportunity. It’s tragic that progress is so slow and expensive. For all of the monetary and human resources dedicated to pharmaceutical R&D, the odds remain heavily stacked against breakthrough research ever making it to market. There’s even a name for this phenomenon: Eroom’s Law, the opposite of Moore’s, in spelling and effect alike. The cost of developing a new drug doubles roughly every nine years. Drug prices are so high, in part, because it is so costly to develop them in the first place. Rare diseases are left untreated, because only blockbusters have a chance of recouping costs. Roll-ups and PE-style consolidation are now standard. Deep pockets, faced with escalating costs, choose to buy innovation instead of fund it, pushing lopsided risk as far downstream as possible. The pharmaceutical industry has a noble and essential purpose. It is charged with developing innovative new treatments that cure acute diseases and help manage chronic ones. In fact, we can’t imagine a better way to spend one’s time or money. What is the biggest pain point on earth? Pain itself, we’d argue. Improving pharma’s own outcomes is an entrepreneurial endeavor worthy of our attention. Success i...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news