Clinical trials often get delayed by as long as six months, and these delays can impact new product introduction and potentially hamper overall profitability. Each year, drug companies sponsor hundreds of clinical trials. While the cost of a new approved drug can easily exceed $800 million, the number of new drug approvals over the years does not commensurate with research and development (R&D) spending. Such declining R&D efficiency and expenditures could have been mitigated sooner through early termination of any trial that will eventually fail. Therefore, drug makers are determined to find new ways to improve their odds for success, including identifying potential “failures†earlier in the clinical trial process while maximizing opportunities for more promising drug candidates. In addition, research has also shown that significant costs savings could be achieved with shortened development cycles.
(Read More: http://www.pharmaasia.com/print.asp?id=7215)
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