Study outlines billions in potential R&D savings

Better standardization of data collection and analysis could save between 25 percent and 48 percent of R&D expenses for each new drug approved by the FDA, according to a new study sponsored by the National Institute of Standards and Technology (NIST). Better technical infrastructure could also reduce the average development time per approved drug from 122 months to 98 months, a reduction of 20 percent. The study estimated that total industry manufacturing costs could be reduced over the four major phases of manufacturing by $1.5 billion, or 23 percent. Data for the study were gathered from individual researchers and organizations including a survey of 44 technical experts whose companies represent 42 percent of the combined annual R&D spending and 49 percent of the combined annual R&D sales in biopharmaceuticals.

- check out the release for more information

Related Articles:
In new approach, R&D units are spun off. Report
Pfizer tops the charts in global R&D spending. Report
Where's the ROI on drug R&D budgets? Report