It’s clear that drug discovery and development costs have rapidly increased in recent decades. That said, estimates vary widely. For example, a 2020 article in JAMA noted that estimates range from $314 million to $2.8 billion.
A high drug discovery failure rate exacerbates the problem. Part of the challenge of making such calculations is the difficulty in identifying precisely the data that went into them. Some estimates measure drug developers’ total cost of drug discovery and development over a given period and divide it by the number of drugs introduced to the market.
The downside to this method is that it doesn’t shed light on the cost of drug development failures.
Software takes aim at drug discovery inefficienciesThe R&D scientific software firm Dotmatics aims to help pharmaceutical companies reduce the failure rate of drug discovery. The company recently debuted Small Molecule Drug Discovery Solution, a software package with…