Lilly exec says drug development costs could top $2 billion

08/11/2006 | Health-IT World

The costs of producing a successful new drug could reach $2 billion by 2010 if pharmaceutical firms do not improve the drug development process, says Eli Lilly executive vice president Steven Paul. Several factors are working against the industry, such as soaring research and development costs, fewer drug approvals, the loss of patent protection, safety issues and pricing pressures, he said.

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