McKinsey February 11, 2025

The average cost to develop a drug is $2.3 billion, and an increasing share of that spending has gone to contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs) in recent years. From 2014 to 2022, CRO and CDMO spending increased by about 13 percent annually, compared with about 8...

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Topics: Biotechnology, Pharma, Pharma / Biotech
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