The pursuit of excellence in new-drug development

We are living in a time of enormous scientific innovation and promise for improved human health. Our understanding of biology is expanding enormously alongside increased identification of novel targets and their associated modalities. Still, drug-development costs and timelines continue to rise, and the likelihood of success continues to fall. Collectively, the top 20 pharmaceutical companies spend approximately $60 billion on drug development each year, and the estimated average cost of bringing a drug to market (including drug failures) is now $2.6 billion--a 140 percent increase in the past ten years. 1 1. We believe the time is right for a true step change in drug development.