Study: Longer drug development periods lengthening time to market

11/2/2005 | Red Herring

Pharmaceutical firms now need an average 8.5 years to move a new product through clinical and approval phases, according to a study by the Tufts Center for the Study of Drug Development. With drug development becoming more complex and costly, companies are concentrating on fewer projects, resulting in fewer new drugs being approved, the center's director said. However, the report also found the number of new therapeutic compounds marketed first in the U.S. rose to a high of 55% from 2002 to 2004.

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