Jon Hu Forbes Councils Member
Everyone likes to point fingers at big pharma. They’ll point to how much money it takes to develop a single drug (up to $2.8 billion on average)—or point to how a drug caused severe, long-term side effects that result in it coming off the market—ultimately throwing that money down the drain.
But ironically, they’re missing the point. The problem isn’t the cost; the cost is an effect of the underlying problem, which is the current probability of success (POS) of a drug in development. On average, the current POS of any given drug is 3%, and here’s why.
Read on for the full story.
Source: Forbes // See original post here.