The U.S. Drug Discovery & Approval Process, Business and Industry Statistics


The U.S. Drug Discovery & Approval Process


Note: From drug discovery through FDA approval, developing a new medicine on average takes at least 10-15 years and costs $2.6 billion (in 2013 dollars). Less than 12% of the candidate medicines that make it into phase I clinical trials will be approved by the FDA.


Source: Pharmaceutical Research and Manufacturers Association (PhRMA)


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