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"21st Century Cures" Could Revolutionize Biotech
No one is thrilled with the way new drugs and medical devices come to market in the U.S. - not the biotech and pharmaceutical companies, not the regulators at the Food and Drug Administration (FDA) or National Institutes of Health (NIH), not physicians, and certainly not patients desperately in need of new therapies.
The process is hugely expensive and incredibly slow. According to the Tuft's Center for the Study of Drug Development, the average cost of bringing a new prescription drug from lab to market now tops $2.5 billion and takes more than 10 years.
That can make for a real thrill ride where investors are concerned, as share price for a pre-profit biotech can rise and fall dramatically and unpredictably with every related data release, financial report, news item, or regulatory hiccup over an entire decade, making long-term investment a crapshoot, at best.
No one is thrilled with the way new drugs and medical devices come to market in the U.S. - not the biotech and pharmaceutical companies, not the regulators at the Food and Drug Administration (FDA) or National Institutes of Health (NIH), not physicians, and certainly not patients desperately in need of new therapies.
The process is hugely expensive and incredibly slow. According to the Tuft's Center for the Study of Drug Development, the average cost of bringing a new prescription drug from lab to market now tops $2.5 billion and takes more than 10 years.
That can make for a real thrill ride where investors are concerned, as share price for a pre-profit biotech can rise and fall dramatically and unpredictably with every related data release, financial report, news item, or regulatory hiccup over an entire decade, making long-term investment a crapshoot, at best.