With the high costs of drug discovery, Tyler Golato, scientific lead at Molecule, discusses why new business models are needed if innovation is to continue.
Alternative approaches
While patent protections are often a key focus for pharmaceutical companies in terms of their business strategy, they are problematic for collaborative research.
The cost of drug development has increased steadily and significantly over the past 40 years. In the 1970s, a drug could be brought to market for approximately $54 million in the United States. Today, estimates for the cost of bringing a single drug to market range from $800m - $2.5bn.