Five things to understand about pharmaceutical R&D
www.brookings.edu
While it may seem in theory that high levels of spending on R&D would result in high production of new drugs, the empirical evidence suggests that the relationship between R&D spending and new drugs is modest Furthermore, the correlation between PhRMA’s spending on R&D and the 5-year average for new
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- While it may seem in theory that high levels of spending on R&D would result in high production of new drugs, the empirical evidence suggests that the relationship between R&D spending and new drugs is modest
- Furthermore, the correlation between PhRMA’s spending on R&D and the 5-year average for new drug approvals was only moderately positive at 0.58.
- IT COSTS A LOT TO BRING A NEW DRUG TO MARKET ON AVERAGE, BUT THE ACTUAL AMOUNT VARIES WIDELY.
- OBSERVATION 4: THE NUMBER OF NEW DRUGS IS A POOR METRIC FOR DRUGS THAT EXPAND TREATMENT CAPABILITIES AND OFFER “NEW CURES.”
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