GLOSSARY: Drug Development Process
Drug Development Process is a precarious pharmaceutical business with risks outweighing benefits. Though risky, many major pharmaceutical companies are involved in drug development process, as it is essential for the survival of pharmaceutical companies and for the betterment of people with newer therapy for treating diseases that afflict millions of people worldwide. The full drug development process is a lengthy and complicated one taking ten to twelve years. The cost of developing a new drug is over €800 million, about 60% of which is spent on necessary rigorous clinical trials.