The Current State Of The Industry
High Cost
This is a challenge not unfamiliar to anyone in the drug development space. Clinical Trial costs are a critical factor while planning portfolio management. Running a drug development company is an expensive endeavor, and even the most altruistic executive must factor in the cost to benefit ratio while selecting compound to advance.
Shelving Of Helpful Drugs
Many drugs are shelved due to financial concerns, regardless if that medication may have improved the lives of patients. It is a decision never taken lightly and often with great disappointment to the team. Difficult decisions are made to choose which treatments have the best likelihood of reaching patients.
Long Drug Development Process
The overal time from discovery of a new chemical enitiy to final regulatory approval can be as long as 15-20 year. This often create very short to no patent excusivity.
Complex Protocols
Clinical trial protocol are become more complex as researcher attempt to explore biomarkers and early signals, creating a barrier of entry for many medical practices
Low Success Rates
A small percentage of new drugs receive regulatory approval. In 2018, for example, approximately 14% were approved.