Fierce Pharma April 29, 2024
Where innovation meets obstacles and the cost of drug development skyrockets, the key to unlocking success of groundbreaking products in the biopharma industry will rely heavily on strategic collaborations that pave the way from lab to market.
As the introduction of biopharma products swells in the coming years they promise both opportunities for developers and manufacturers as well as pitfalls along the path to commercialization.
The stakes have never been higher with the average cost of developing a new drug soaring 15% in 2023 to approximately $2.3 billion, according to a Deloitte study that focused on the top 20 global biopharmas.1
Even among promising new product development ideas in preclinical stages there is a less than 4% chance of...
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