In this article, Ben van der Schaaf, principal at Arthur D. Little, gives a five-step guide to explore possible funding partnerships for lower-priority drug trials — a new model for big pharma.
Today’s clinical trials can cost biopharma companies upwards of $100 million1 before they even begin to consider additional investment in marketing and distribution of new life enhancing therapies. For those major drug companies that spent the last decade building a robust pipeline of early stage compounds and indications, these sky-high development costs mean they have a wide portfolio of potential assets without the resources to get them through trials.