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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...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
MDPI
2013
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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 |
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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 |