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Big data is changing the way healthcare is delivered and improving the way drugs are developed.
February 1, 2024
By: Joe Alea
Chief Technology Officer, Anju
Drug development is a long and risky journey. According to industry group PhRMA, it takes 10-15 years on average to develop one new medicine from initial discovery through regulatory approval. Only one in 1,000 (0.1%) of drugs entering preclinical studies are ultimately tested in humans, and only one in five (20%) of drugs entering human trials make it to commercialization. While these numbers have improved, there is still much room for further improvement to optimize the drug development process. Drug development is a complex and challenging process that requires significant technical expertise and resources. The intricacies in drug development are quite complex and pharmaceutical R&D suffers from declining success rates and stagnant pipelines. The processes in assessing the compounds at cellular and molecular levels are varied and require extensive permutations and combinations. Drug development challenges can include technical, regulatory, legal, clinical, financial, and cost and time challenges. These challenges can be difficult to overcome and can significantly delay or even prevent the successful launch of a new drug or therapy.
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