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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