Utilizing a Protocol Cost Saving Analysis to Reduce Drug Development Costs
Over the years, studies have been conducted to ascertain the cost of research and development (“R&D”) required to bring a new drug to market. Experts disagree on the exact amount, but the consensus is that the figure is in the hundreds of millions to over a billion dollars. Pharmaceutical companies, biotech firms and anyone in the business of developing new therapeutics knows there is significant pressure to reduce the cost of R&D, while still delivering safe and effective treatments that alleviate symptoms or cure a medical condition.
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