Opinion: Public, politicians do not understand drug development costs

11/22/2004 | New York Post

As it struggles to deal with complaints about high prices and drugs that turn out to be dangerous, the pharmaceutical industry needs to make the American public and politicians aware of the costs of developing new drugs, writer Deroy Murdock contends. "Only five in 5,000 compounds that enter pre-clinical testing make it to human testing," notes an industry representative. Data from Tufts University show it costs a company $802 million to get one new drug through the development process and into the market, and that normally takes 10 to 15 years. Murdock argues it is incumbent on the pharmaceutical industry to educate politicians and the public about the costs associated with drug development and why price controls and other measures to reduce costs for consumers will negatively affect innovation throughout the industry.

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