First Opinion

Reimagining R&D can cut drug development costs from billions to millions

Reimagining R&D can cut drug development costs from billions to millions

In the course of our work advising biopharma companies, we are often asked how they can bring medicines to market more quickly and cost efficiently. It’s a timely question.

It can take 10 to 15 years and cost between $2.6 billion and $6.7 billion — including the cost of capital and the cost of failure — to bring a successful medicine to market, depending on therapeutic area, treatment modality, and disease complexity. While the biopharma industry continues to innovate — look no further than its speedy response to Covid-19 — those costs and timelines are no longer sustainable.

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