New drug approvals have fallen from 53 new molecular entities (NMEs) approved in 1996 to just 26 last year. Simultaneously, R&D spending has almost doubled from $17 billion in 1996 to $32 billion worldwide last year, according to a study from Cutting Edge Information.
A select few industry leaders are introducing measures to reverse the trend, the report notes, adding that a vital first step is to unite R&D and commercial teams toward common goals. Industry leaders, including Pfizer, Novartis and Abbott Laboratories, have implemented formal tools, processes and team structures to integrate R&D and commercial players.
Infusing market data into early drug development has the effect of weeding-out commercially feeble drugs and shapes drugs to meet patient needs, according to the report.
For more details visit: www.pharmacommercialization.com.