Growing the pipeline, growing the bottom line — shifts in pharmaceutical R&D innovation
By Chris Stirling
As spending on pharmaceutical research and development (R&D) continues to soar, executives, shareholders and analysts alike are entitled to ask: what value are we getting for our investment?
The pharma sector invests more money in research than any other industry, with five of the world’s 10 highest R&D budgets belonging to drug companies. Between 2004 and 2013, the total industry expenditure on R&D rose from $88bn (£52bn) to $135bn, and is forecast to reach $149bn by 2018.
Yet in the same time period, the estimated cost of bringing a new chemical or biological product to market has more than trebled from $451m to $1.5bn. Meanwhile, the average number of annual US Food and Drug Administration (FDA) approvals for new molecular entities (NMEs) — a good directional indicator of innovation — fell from 31.5 in 1990 to an average of just 22.9 from 2001–10…
Click on the link below to read the rest of the KPMG briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from KPMG
News from The Lawyer
Briefings from KPMG
With the commencement of the Companies Act 2014 at our doorstep, companies will need to make decisions about their future.
Some significant amendments have been made to the Income Tax Act.