Working to improve pipeline efficiency using genomics
Although the Food and Drug Administration approved a record number of novel therapeutics in 2020, only one drug out of 10 (about 10%) that enters clinical trials is ultimately approved by the FDA. That is a problem, and a costly one at that.
Developing a safe and efficacious drug is quite challenging, as evidenced by a Biostatistics study, which found that 2015’s total revenue from the entire pharmaceutical industry was $1.2 trillion, and $150 billion was spent on R&D. The sobering statistic is that approximately $112 billion of that R&D spent in 2015 (nearly 75%) can be directly attributed to failed clinical trials.