Successful clinical development of a drug, from preclinical testing to marketing approval, requires a vast amount of resources and money. Drug development costs are on the rise, and pharmaceutical/biotechnology companies are seeking solutions for faster and cheaper development. These include repurposing approved drugs for new indications, and incorporating computational biology algorithms into preclinical tests for more efficient screening of molecules, among other methods.
Running clinical trials is a major portion of drug development costs. What are the main costs of clinical trials, and why are they so expensive? Our team at Clinical Research IO searched the literature to find out how clinical trial costs differed by indication, and what the cost drivers were. Check out the clinical trial cost breakdown below.
The evolving landscape of clinical trial software is poised to significantly reduce trial costs, and enable drugs/medical devices to come to market more quickly. If you are considering adopting eSource or CTMS technology for your trials, check out our solutions and request a demo to learn more.
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- Tufts Center for the Study of Drug Development (CSDD). 2014.
- Battelle Technology Partnership Practice and PhRMA. Biopharmaceutical Industry-Sponsored Clinical Trials: Impact on State Economies. March 2015.
- Sertkaya et al. Key cost drivers of pharmaceutical clinical trials in the United States. 2016.