Lexology October 16, 2020
Smaller healthtech firms can thrive alongside big pharma, thanks to rapid progress in the application of AI, says leading patent attorney Peter Finnie.
The pharmaceutical industry has been dominated by large pharmaceutical companies, often known as “big pharma”. This was for a very good reason. Developing drugs is incredibly expensive, time-consuming, and risky. Pharmaceutical companies spend hundreds of millions of dollars and years discovering new drugs, testing them, and then seeking regulatory approval. However, the majority of promising drug candidates fail to obtain regulatory approval because they do not have the necessary level of clinical benefit or have unacceptable side-effects. Artificial intelligence (AI) is changing the landscape by shortening discovery times whilst reducing the number of failed drug candidates.
AI’S...
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