Format

Send to:

Choose Destination
See comment in PubMed Commons below
Health Aff (Millwood). 2006 Mar-Apr;25(2):420-8.

Estimating the cost of new drug development: is it really 802 million dollars?

Author information

  • 1Bureau of Economics, Federal Trade Commission, in Washington, DC, USA. cadams@ftc.gov

Abstract

This paper replicates the drug development cost estimates of Joseph DiMasi and colleagues ("The Price of Innovation"), using their published cost estimates along with information on success rates and durations from a publicly available data set. For drugs entering human clinical trials for the first time between 1989 and 2002, the paper estimated the cost per new drug to be 868 million dollars. However, our estimates vary from around 500 million dollars to more than 2,000 million dollars, depending on the therapy or the developing firm.

PMID:
16522582
[PubMed - indexed for MEDLINE]
Free full text
PubMed Commons home

PubMed Commons

0 comments
How to join PubMed Commons

    Supplemental Content

    Full text links

    Icon for HighWire
    Loading ...
    Write to the Help Desk