Cargando…

New Zealand’s Drug Development Industry

The pharmaceutical industry’s profitability depends on identifying and successfully developing new drug candidates while trying to contain the increasing costs of drug development. It is actively searching for new sources of innovative compounds and for mechanisms to reduce the enormous costs of dev...

Descripción completa

Detalles Bibliográficos
Autores principales: Lockhart, Michelle Marie, Babar, Zaheer-Ud-Din, Carswell, Christopher, Garg, Sanjay
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2013
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3799511/
https://www.ncbi.nlm.nih.gov/pubmed/24065037
http://dx.doi.org/10.3390/ijerph10094339
_version_ 1782287882510139392
author Lockhart, Michelle Marie
Babar, Zaheer-Ud-Din
Carswell, Christopher
Garg, Sanjay
author_facet Lockhart, Michelle Marie
Babar, Zaheer-Ud-Din
Carswell, Christopher
Garg, Sanjay
author_sort Lockhart, Michelle Marie
collection PubMed
description The pharmaceutical industry’s profitability depends on identifying and successfully developing new drug candidates while trying to contain the increasing costs of drug development. It is actively searching for new sources of innovative compounds and for mechanisms to reduce the enormous costs of developing new drug candidates. There is an opportunity for academia to further develop as a source of drug discovery. The rising levels of industry outsourcing also provide prospects for organisations that can reduce the costs of drug development. We explored the potential returns to New Zealand (NZ) from its drug discovery expertise by assuming a drug development candidate is out-licensed without clinical data and has anticipated peak global sales of $350 million. We also estimated the revenue from NZ’s clinical research industry based on a standard per participant payment to study sites and the number of industry-sponsored clinical trials approved each year. Our analyses found that NZ’s clinical research industry has generated increasing foreign revenue and appropriate policy support could ensure that this continues to grow. In addition the probability-based revenue from the out-licensing of a drug development candidate could be important for NZ if provided with appropriate policy and financial support.
format Online
Article
Text
id pubmed-3799511
institution National Center for Biotechnology Information
language English
publishDate 2013
publisher MDPI
record_format MEDLINE/PubMed
spelling pubmed-37995112013-10-21 New Zealand’s Drug Development Industry Lockhart, Michelle Marie Babar, Zaheer-Ud-Din Carswell, Christopher Garg, Sanjay Int J Environ Res Public Health Article The pharmaceutical industry’s profitability depends on identifying and successfully developing new drug candidates while trying to contain the increasing costs of drug development. It is actively searching for new sources of innovative compounds and for mechanisms to reduce the enormous costs of developing new drug candidates. There is an opportunity for academia to further develop as a source of drug discovery. The rising levels of industry outsourcing also provide prospects for organisations that can reduce the costs of drug development. We explored the potential returns to New Zealand (NZ) from its drug discovery expertise by assuming a drug development candidate is out-licensed without clinical data and has anticipated peak global sales of $350 million. We also estimated the revenue from NZ’s clinical research industry based on a standard per participant payment to study sites and the number of industry-sponsored clinical trials approved each year. Our analyses found that NZ’s clinical research industry has generated increasing foreign revenue and appropriate policy support could ensure that this continues to grow. In addition the probability-based revenue from the out-licensing of a drug development candidate could be important for NZ if provided with appropriate policy and financial support. MDPI 2013-09-13 2013-09 /pmc/articles/PMC3799511/ /pubmed/24065037 http://dx.doi.org/10.3390/ijerph10094339 Text en © 2013 by the authors; licensee MDPI, Basel, Switzerland. http://creativecommons.org/licenses/by/3.0/ This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/3.0/).
spellingShingle Article
Lockhart, Michelle Marie
Babar, Zaheer-Ud-Din
Carswell, Christopher
Garg, Sanjay
New Zealand’s Drug Development Industry
title New Zealand’s Drug Development Industry
title_full New Zealand’s Drug Development Industry
title_fullStr New Zealand’s Drug Development Industry
title_full_unstemmed New Zealand’s Drug Development Industry
title_short New Zealand’s Drug Development Industry
title_sort new zealand’s drug development industry
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3799511/
https://www.ncbi.nlm.nih.gov/pubmed/24065037
http://dx.doi.org/10.3390/ijerph10094339
work_keys_str_mv AT lockhartmichellemarie newzealandsdrugdevelopmentindustry
AT babarzaheeruddin newzealandsdrugdevelopmentindustry
AT carswellchristopher newzealandsdrugdevelopmentindustry
AT gargsanjay newzealandsdrugdevelopmentindustry