December 12, 2002
Bioinformatics To Cut Drug Development Costs

The cost per drug brought to market is $880 million. The ability of computers to analysis greater quantities of information will cut costs and cut development time.

Paradoxically, the biggest gains are to be made from failures. Three-quarters of the cost of developing a successful drug goes to paying for all the failed hypotheses and blind alleys pursued along the way. If drug makers can kill an unpromising approach sooner, they can significantly improve their returns. Simple mathematics shows that reducing the number of failures by 5% cuts the cost of discovery by nearly a fifth. By enabling researchers to find out sooner that their hoped-for compound is not working out, bioinformatics can steer them towards more promising candidates. Boston Consulting believes bioinformatics can cut $150m from the cost of developing a new drug and a year off the time taken to bring it to market.

Share |      Randall Parker, 2002 December 12 01:47 PM  Biotech Advance Rates


Comments
Post a comment
Comments:
Name (not anon or anonymous):
Email Address:
URL:
Remember info?

                       
Go Read More Posts On FuturePundit
Site Traffic Info
The contents of this site are copyright