How AI, blockchain, and big data can reduce drug development costs - Pharmaphorum

Cutting-edge technologies are increasingly improving pharma's R&D processes, which will reduce costs and, in turn, benefit patients, says Gunjan Bhardwaj. It's no secret that drug prices are a controversial issue. Just last week, US President Trump called high drug prices an "injustice" and vowed to make the issue a priority for his administration. In the face of such pressure, pharmaceutical companies are eager to reduce the cost of drug development so that consumer prices can be lowered without sacrificing profit margin. Fortunately, cutting-edge technologies such as AI, blockchain, and big data have the potential to eliminate costly inefficiencies in the drug discovery and development process.