The pharmaceutical industry is well known for being one of the most inefficient industries globally. Numerous studies, including Steve Paul’s famous 2010 paper, the Tufts Cost study, and multiple landmark papers from the St. Gallen Consortium led by Oliver Gassmann and Alexander Schuhmacher, have provided detailed productivity analyses of internal pharma R&D and collaborations.
Estimates range from $2.8 billion per approval by Tufts (2016) industry-wide to staggering $6.1 billion…
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Source: https://www.genengnews.com/topics/drug-discovery/the-great-pharma-wasteland/